Bulls are feeling pressure from bears as some cryptocurrencies are in the red zone, according to CoinMarketCap rankings.
Cardano (ADA) was unable to join the list of rising coins, falling 0.46%.
On the hourly chart, Cardano (ADA) is more bearish than bullish as the price retraced to the $0.3726 support level. If a breakout occurs, the accumulated energy could be enough for a drop to $0.3650.
On the daily chart, the price continues to trade sideways as neither side has accumulated the power to seize the initiative.
However, if the decline continues to $0.37, traders can expect a decline to $0.36 in the coming days.
The situation is more positive on the daily chart against Bitcoin (BTC). The rate is closer to the resistance than the support but it is too early to think of a breakout because the rate has not yet reached the resistance at 0.00001676. If that happens, the growth could lead to the 0.00001750 mark.
ADA is trading at $0.3750 at press time.