Buyers have failed to seize the initiative, according to CoinStats.
ADA chart by CoinStatsADA/USD
The rate of Cardano (ADA) has declined by 0.71% since yesterday.
Image by TradingView
On the hourly chart, the price of ADA is looking bearish as the rate has come back to the support of $0.3852. If the situation does not change by the end of the day, there is a chance to see a breakout, followed by a move to $0.38.
Image by TradingView
On the bigger time frame, traders should pay attention to the interim zone of $0.40. If it breaks out, the accumulated energy might be enough for a further rise to the $0.41-$0.42 range.
Image by TradingView
From the midterm point of view, neither buyers nor sellers are dominating. Such a statement is also confirmed by low volume.
card
All in all, sideways trading between $0.36 and $0.40 is the more likely scenario for the next few days.
ADA is trading at $0.3893 at press time.
