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Sellers are becoming more powerful today, according to CoinStats.
ADA/USD
Cardano (ADA) is an exception, rising by 1.27% over the last day.
On the hourly chart, the price of ADA is breaking the local support of $1.0810. If the daily bar closes below that mark, there is a chance of a test of the $1.04 zone by tomorrow.
On the bigger time frame, the rate of ADA is declining after a false breakout of the resistance of $1.1332. If the bar closes below the $1.0565 level, the accumulated energy might be enough for a drop to the $1 area soon.
On the weekly chart, buyers have failed to maintain the growth after the bullish candle closure.
Related
If the bar closes far from the $1.10 zone, one can expect a test of the $0.95 area shortly.
ADA is trading at $1.0419 at press time.
Disclaimer: The opinions expressed by our writers are their
own and do not represent the views of U.Today. The financial and market information
provided on U.Today is intended for informational purposes only. U.Today is not
liable for any financial losses incurred while trading cryptocurrencies. Conduct
your own research by contacting financial experts before making any investment
decisions. We believe that all content is accurate as of the date of publication,
but certain offers mentioned may no longer be available.
Source: https://u.today/cardano-ada-price-prediction-for-january-7