Cardano

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The correction has continued on the cryptocurrency market as most of the coins are staying in the <a href="https://u.today/shib-price-analysis-for-july-6">red zone</a>.
<img alt="Top 10 coins by CoinMarketCap" data-entity-type="file" data-entity-uuid="77c456c8-beb7-4eff-9108-91fdf1e15121" src="https://u.today/sites/default/files/inline-images/top10_531.png">
Top coins by<a href="https://coinmarketcap.com/"> CoinMarketCap</a>
<h2 id="ada-usd">ADA/USD</h2>
The rate of Cardano (ADA) has declined by 0.44% over the last 24 hours.
<img alt="ADA/USD chart by TradingView" data-entity-type="file" data-entity-uuid="7988f27c-c606-43f3-8329-25ab631089ef" src="https://u.today/sites/default/files/inline-images/ada1_64.png">
Image by <a href="https://www.tradingview.com/symbols/ADAUSD">TradingView</a>
Despite today's fall, the rate of Cardano (ADA) is looking bullish on the local chart as the price is about to fix above the resistance at $0.2843. If buyers can hold the gained initiative, the upward move may continue to the $0.29 zone.
<img alt="ADA/USD chart by TradingView" data-entity-type="file" data-entity-uuid="fe6bb478-d476-468e-bdbb-01eb9e7d8877" src="https://u.today/sites/default/files/inline-images/ada2_65.png">
Image by <a href="https://www.tradingview.com/symbols/ADAUSD">TradingView</a>
On the daily time frame, the price of Cardano (ADA) is in the middle of the channel, accumulating energy for a further sharp move.
<a href="https://u.today/doge-price-analysis-for-july-6">card</a>
One can think about a possible midterm reversal only if the rate fixes above the $0.30 zone.
<img alt="ADA/USD chart by TradingView" data-entity-type="file" data-entity-uuid="7d8cc1f6-c132-4c87-9866-4a2b483dd9f2" src="https://u.today/sites/default/files/inline-images/ada3_54.png">
Image by <a href="https://www.tradingview.com/symbols/ADAUSD">TradingView</a>
A similar situation can be seen on the weekly chart as the rate is far from key levels. As none of the sides has seized the initiative yet, ongoing sideways trading in the narrow range of $0.28-$0.30 is the more likely scenario until mid-July.
ADA is trading at $0.2851 at press time.

Cardano (ADA) Price Analysis for July 7

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