Cardano

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Bears keep controlling the situation on the market as the rates of most of the coins <a href="https://u.today/btc-eth-and-xrp-price-analysis-for-july-31-0" rel="noopener noreferrer nofollow">keep falling</a>. 
<img alt="Top coins by CoinMarketCap" data-entity-type="file" data-entity-uuid="a312f008-5989-47ab-a1d7-06995626a674" src="https://u.today/sites/default/files/inline-images/top10coin_1.png"> 
Top coins by<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow"> CoinMarketCap</a> 
<h2 id="ada-usd">ADA/USD</h2> 
The rate of Cardano (ADA) has declined by 2.15% over the last 24 hours. 
<img alt="ADA/USD chart by TradingView " data-entity-type="file" data-entity-uuid="4ebe4db0-2c8b-4bbe-b92d-0af9b70a4de6" src="https://u.today/sites/default/files/inline-images/ada1_69.png"> 
Image by <a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a> 
On the hourly chart, the rate of Cardano (ADA) is neither bullish nor bearish as the price is far from key levels. In addition, most of the daily ATR has been passed. In this case, sideways trading in the area around $0.3040 is the more likely scenario until tomorrow. 
<img alt="ADA/USD chart by TradingView " data-entity-type="file" data-entity-uuid="8415a8a4-40d4-4537-891d-e76765af3512" src="https://u.today/sites/default/files/inline-images/ada2_69.png"> 
Image by <a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a> 
On the daily chart, the price of Cardano (ADA) has made a false breakout of the $0.2950 zone. Currently, traders should focus on the bar closure. If the bears' pressure continues and the candle closes below the $0.30 area, the correction may continue to $0.29. 
<img alt="ADA/BTC chart by TradingView " data-entity-type="file" data-entity-uuid="1c94cd08-9e3e-43ee-8e38-72cf3d2d308c" src="https://u.today/sites/default/files/inline-images/ada3_58.png"> 
Image by <a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a> 
Sideways trading is also the more likely scenario on the daily chart against BTC. The rate has not accumulated enough energy for a sharp move, which means there are low chances of seeing either a rise or fall soon. 
All in all, traders might witness ongoing consolidation between 0.00001040 and 0.00001080 within the next few days. 
ADA is trading at $0.3034 at press time.

Cardano (ADA) Price Analysis for August 1

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