Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Bulls could not continue the weekend’s rise, and all of the top 10 coins are in the red zone.
The rate of Cardano (ADA) has dropped by 2.17% over the last 24 hours.
On the daily chart, the rate of Cardano (ADA) has bounced off the resistance at $0.3980. At the moment, the price is trading near the support level at $0.3780. However, if the daily closure happens near it, the drop may lead to the test of the $0.36 area shortly.
ADA is trading at $0.3811 at press time.
Solana (SOL) is less of a loser than Cardano (ADA), going down by 1%.
On the daily time frame, the price of Solana (SOL) has come back to the support at $23.65. The selling volume has increased, which means that bears may have locally seized the initiative.
In this case, the breakout of the mentioned mark may be a prerequisite for a fall to the $22 zone. Such a scenario is relevant until mid-February.
SOL is trading at $24.30 at press time.
Written by: Denys Serhiichuk
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