Cardano

<figure><img src="https://u.today//sites/default/files/styles/1200x900/public/2023-06/35916.jpg" alt="Cover Image" width="800"
 height="500">
 <figcaption>Cover image via <a href="https://u.today/">U.Today</a></figcaption>
 </figure>The <a href="https://u.today/shib-price-analysis-for-june-6">cryptocurrency market</a> is neutral today as none of the sides has seized the initiative.<img alt="Top 10 coins by CoinMarketCap" data-entity-type="file" data-entity-uuid="16bcc98c-08bf-4f69-81fd-3d7d622c6a71" src="https://u.today/sites/default/files/inline-images/top10_478.png" />Top coins by<a href="https://coinmarketcap.com/"> CoinMarketCap</a><h2 id="ada-usd">ADA/USD</h2>Cardano (ADA) has followed the decline of most other coins, going down by 5.73%.<img alt="ADA/USD chart by TradingView " data-entity-type="file" data-entity-uuid="93dcde34-b8b0-4475-a652-9286a07f2917" src="https://u.today/sites/default/files/inline-images/ada1_63.png" />Image by <a href="https://www.tradingview.com/symbols/ADAUSD">TradingView</a>On the hourly time frame, the price of Cardano (ADA) has broken the level at $0.3340, which is crucial now for bears. If the daily bar closes near it, one can expect a local correction to the $0.34 zone soon.<img alt="ADA/USD chart by TradingView " data-entity-type="file" data-entity-uuid="f893eb0c-fc8e-4a3b-98dd-8e12ae7f2755" src="https://u.today/sites/default/files/inline-images/ada2_64.png" />Image by <a href="https://www.tradingview.com/symbols/ADAUSD">TradingView</a>On the daily chart, there are bullish signals yet as the price keeps falling after a breakout of the $0.35 zone.<a href="https://u.today/doge-price-analysis-for-june-6">card</a>In this case, the more likely scenario is an ongoing drop to the nearest support at $0.3012. Such a scenario is relevant until mid-June.<img alt="ADA/USD chart by TradingView " data-entity-type="file" data-entity-uuid="ca79903b-8a58-48e3-92c5-a2106465b68e" src="https://u.today/sites/default/files/inline-images/ada3_53.png" />Image by <a href="https://www.tradingview.com/symbols/ADAUSD">TradingView</a>A similar situation can be seen on the weekly time frame, as bears have returned to the game. If the candle closes near the $0.32 mark, the test of the important area of $0.30 is just a matter of time.ADA is trading at $0.3266 at press time.

Cardano (ADA) Price Analysis for June 7

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