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.
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.