How great are the chances to see the reversal of Cardano (ADA) soon?
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The weekend has begun with the continued fall of the cryptocurrency market as most of the coins remain in the red zone.
ADA/USD
Cardano (ADA) has followed the decline of most of the coins, going down by 1.35% since yesterday.
On the local time frame, Cardano (ADA) is trading in the middle of the formed channel between the support at $0.17987 and the resistance at $0.8187. If the decline continues by the end of the day, the fall may lead to the test of the $0.79 mark.
On the bigger chart, the price is coming back to the low level of the wide channel against the increased trading volume. In case of a further drop, one can expect a test of the $0.7460 mark soon.
On the bigger time frame, the price has fixed below the $0.90, mark which means that there is a high possibility to see the ongoing decline next week. In this regard, bears may get the rate of ADA back to the $0.6856 mark.
ADA is trading at $0.8087 at press time.