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The bulls are back in the game after a sharp rise; However, some coins remain in the Red Zone.
Cardano (ADA) rate is up 0.64% in the last 24 hours.
On the local chart, Cardano (ADA) rate is trending down after a false breakout with the hourly resistance level at $0.4589. For the time being, the price is on the way to support at $0.4410. If buyers are unable to seize the initiative, a decline could soon test the $0.4350 mark.
On the daily chart, the situation is slightly different as the price is trapped in the middle of the channel. Traders can only consider a possible increase when ADA returns to the $0.46 area.
From a medium-term perspective, the bears are not going to give up as the price is slowly approaching the $0.3974 support level. In this case, a more likely scenario is another decline towards the $0.35 area by the end of the month.
ADA is trading at $0.4488 at press time.