Sellers Pressuring Market

Sellers are maintaining their influence, with some coins showing positive movement, according to CoinStats.

ADA/USD

Cardano (ADA) is experiencing significant losses, dropping by 5.78% today.

Despite this decline, the hourly chart appears bearish. A breakout below the $0.70 mark may lead to a test of the $0.69 zone soon.

A bearish trend is also visible on the daily timeframe. It’s important to monitor the bar closure near the $0.6909 level. If bulls fail to keep the price above this point, it could signal a drop to the $0.66 area.

From a mid-term perspective, the situation is neutral. Should the weekly candle close near current levels, a test of the $0.60 mark could ensue.

ADA is currently trading at $0.7067.