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Even though most of the coins are in the green zone, there are some exceptions to the rule. Mainly, the rate of DOGE has declined by 0.35% since yesterday.
Cardano (ADA) is about to end the current week bearish as its price has dropped by 6.35%.
On the local chart, Cardano (ADA) is trading near the hourly support level at $0.4741, confirming bears’ pressure. In this regard, if the selling volume rises, the price decline may lead to a test of the $0.47 mark by the end of the day.
On the bigger time frame, the situation does not look clear as the price has remained in the wide channel for a long time. In addition, the necessary power has not been accumulated yet, according to the declining volume.
Respectively, sideways trading in the area between $0.47 and $0.49 is the more likely scenario for the upcoming days.
The situation looks similar on the weekly chart, according to the current price location. A midterm rise may only possibly start if buyers restore the rate to the $0.50 zone and above.