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Elevenews

05/07/2023

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Cardano (ADA) Price Analysis for May 7 - ELEVENEWS

Bears have become more active on the last day of the week as most of the coins have returned to the red area. ADA/USD The rate of Cardano (ADA) has declined by 2.13% over the last 24 hours. Image by...

Cardano (ADA) Price Analysis for May 7 - ELEVENEWS

Bears have become more active on the last day of the week as most of the coins have returned to the red area.

ADA/USD The rate of Cardano (ADA) has declined by 2.13% over the last 24 hours. Image by TradingView On the hourly chart, the price of Cardano (ADA) is on the way to the local resistance at $0.3826. If the growth continues, the breakout may lead to a test of the $0.39 area tomorrow. Image by TradingView The opposite situation is on the daily time frame. Buyers are trying to keep the rate above the $0.38 mark despite sellers’ pressure. If bulls fail to do that, the decline can continue to $0.37.

ADA/USD The rate of Cardano (ADA) has declined by 2.13% over the last 24 hours. Image by TradingView On the hourly chart, the price of Cardano (ADA) is on the way to the local resistance at $0.3826. If the growth continues, the breakout may lead to a test of the $0.39 area tomorrow. Image by TradingView The opposite situation is on the daily time frame. Buyers are trying to keep the rate above the $0.38 mark despite sellers’ pressure. If bulls fail to do that, the decline can continue to $0.37.

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