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 an hourly basis, the value of ADA is shattering its nearby support level at approximately $1.0810. Should today’s day-long price bar end beneath this threshold, it could potentially trigger a dip towards the $1.04 region by the next trading day.
On a larger time scale, the rate of ADA has dropped following an incorrect breakout above its resistance at $1.1332. If the current bar closes below the $1.0565 mark, there may be sufficient accumulated momentum for a quick drop to the $1 range shortly.
On the weekly chart, buyers have failed to maintain the growth after the bullish candle closure.
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.
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2025-01-07 19:10