The rates of most cryptocurrencies keep going down, according to CoinStats.
Top coins by CoinStatsADA/USD
Cardano (ADA) is an exception, rising by 1.84% over the past day.
Image by TradingView
On the hourly chart, the price of ADA might have found a local resistance level of $0.3730. If the decline continues, there is a possibility of a test of the $0.36 zone soon.
Image by TradingView
On the bigger time frame, one should pay attention to the bar closure in terms of yesterday's candle low. If it happens near it, the breakout may lead to a further decline to the $0.34 area.
card
Such a scenario is relevant until the end of next week.
Image by TradingView
On the weekly chart, the picture is also bearish. If the candle closes around the current prices, one can witness a test of the nearest support level of $0.3165 soon.
ADA is trading at $0.3658 at press time.
