Cardano

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Bulls are losing the initiative on the last day of the week as <a href="https://u.today/doge-price-analysis-for-july-29" rel="noopener noreferrer nofollow">some coins</a> are back in the red zone. 
<img alt="Top 10 coins by CoinMarketCap" data-entity-type="file" data-entity-uuid="398a04a6-67ab-43ae-9fb8-f9c5def33b96" src="https://u.today/sites/default/files/inline-images/top10_572.png"> 
Top coins by&nbsp;<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
<h2 id="ada-usd">ADA/USD</h2> 
The price of Cardano (ADA) has increased by almost 1% over the last 24 hours. 
<img alt="ADA/USD chart by TradingView" data-entity-type="file" data-entity-uuid="f274214e-0ac7-427f-a997-5604164c241b" src="https://u.today/sites/default/files/inline-images/ada1_68.png"> 
Image by <a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a> 
Despite the growth, the rate of ADA is testing the local support level at $0.3128. If the daily closure happens below it, buyers might seize the initiative, which can lead to a test of the $0.31 zone tomorrow. 
<img alt="ADA/USD chart by TradingView" data-entity-type="file" data-entity-uuid="a1cdbf71-e192-42e9-ae47-8b617a08593c" src="https://u.today/sites/default/files/inline-images/ada2_68.png"> 
Image by <a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a> 
The situation is bearish on the daily time frame as the ADA rate has failed to fix above the $0.3150 mark. At the moment, one should pay close attention to the $0.31 area. 
If buyers can hold that level, the drop may continue to $0.30500 soon. 
<img alt="ADA/USD chart by TradingView" data-entity-type="file" data-entity-uuid="81a22ecb-f260-4646-883f-63d0e06acf50" src="https://u.today/sites/default/files/inline-images/ada3_57.png"> 
Image by <a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a> 
A different picture is on the weekly chart as the rate has once again bounced off the support at $0.2996. However, the rate of ADA has not accumulated enough energy for an upward move. All in all, sideways trading between $0.31 and $0.3150 is the more likely scenario until mid-August. 
ADA is trading at $0.3125 at press time.

Cardano (ADA) Price Analysis for July 30

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