In the second half of the day, the cryptocurrency market is trading sideways, according to CoinStats.
ADA/USD
The rate of Cardano (ADA) has fallen by 0.61% over the last 24 hours.
On the hourly chart, the price of Cardano (ADA) is trading near the local support level of $0.2453. If no bounce back happens until the end of the day, the breakout may lead to a blast to the $0.2440 area by tomorrow.
A similar situation is on the daily time frame. The rate of ADA is returning to the support level of $0.2447.
If buyers cannot seize the initiative shortly, traders are likely to see a test of the $0.24 range within the next few days.
From the midterm point of view, one should focus on the nearest level of $0.2380. As there are no reversal signals yet, one may expect a drop to $0.23 soon.
ADA is trading at $0.2458 at press time.
Read More: Cardano (ADA) Price Analysis for October 15