Growth has come to an end as most coins are in the red zone. The top loser is Cardano (ADA), whose rate has declined by 6.73% since yesterday.
Total market capitalization has also gone down and currently stands at $270.6 bln.
The current Cardano data stack up this way:
Market Cap: $3,245,397,971
Volume (24h): $450,445,768
Change (24h): -6.02%
The data are current at press time.
ADA/USD: Is the correction finished?
Cardano (ADA) could not withstand the bearish market mood, falling by around 6% over the previous 24 hours. However, over the past week, the altcoin has added 16.69%.
Although Cardano (ADA) has not reached the local bottom, it might retest the resistance before a continued drop. In this regard, the rise may last until the altcoin reaches the $0.1260 mark.
A possible price increase should be considered a bounce off but not the start of a bull run.
On the 4H chart, the bearish mood is becoming more powerful as there is no bull resistance. The trading volume keeps declining, plunging its value further. What's more, the lines of the MACD indicator just turned red. All in all, the drop may continue to the closest support at $0.1190.
On the daily time frame, growth is also unlikely to continue as trading volume keeps going down. The RSI indicator has almost left the overbought zone, having formed the bearish divergence. Last but not least, the lack of liquidity at current levels may push Cardano (ADA) to the mark of $0.1090 until the end of July 2020.
Cardano is trading at $0.1245 at press time.