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The growth has not lasted long, and all of the top 10 coins are back to the red zone.
The rate of Cardano (ADA) has fallen by 4.37% over the last 24 hours.
On the hourly chart, the price of ADA has made a false breakout of the local support level of $0.4977. If the daily candle closes near $0.51, one can expect a test of the resistance of $0.5153 tomorrow.
On the daily time frame, one should pay attention to the vital zone of $0.50. If the buyers lose it, there is a chance to see a further drop to the support of $0.4643 soon.
From the midterm point of view, traders should focus on the weekly candle closure in terms of the $0.4643 level.
If it breaks out, there is a possibility to see a continued decline to the $0.40-$0.44 area until mid-February.
ADA is trading at $0.5028 at press time.
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
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