Cardano

bullish

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The rates of most cryptocurrencies keep going down, according to <a href="https://u.today/ethereum-eth-prediction-for-august-2" rel="noopener noreferrer nofollow">CoinStats</a>. <img data-entity-type="file" data-entity-uuid="75396b39-27d9-478d-b26c-f46c687dd78c" src="https://u.today/sites/default/files/inline-images/top10_1274.png">Top coins by&nbsp;<a href="https://coinstats.app/coins/" rel="noopener noreferrer nofollow">CoinStats</a>
<h2 class="text-align-justify" id="ada-usd">ADA/USD</h2>
Cardano (ADA) is an exception, rising by 1.84% over the past day. <img data-entity-type="file" data-entity-uuid="752eb3eb-e569-4e64-8a03-e19334cee52c" src="https://u.today/sites/default/files/inline-images/ada1_119.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ADAUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the price of ADA might have found a local resistance level of $0.3730. If the decline continues, there is a possibility of a test of the $0.36 zone soon. <img data-entity-type="file" data-entity-uuid="b754a3d8-915b-4f1e-b9c7-78cd85c43e77" src="https://u.today/sites/default/files/inline-images/ada2_119.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ADAUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, one should pay attention to the bar closure in terms of yesterday's candle low. If it happens near it, the breakout may lead to a further decline to the $0.34 area.
Such a scenario is relevant until the end of next week. <img data-entity-type="file" data-entity-uuid="e16d584e-368e-4e7f-a66a-db45bfafb28e" src="https://u.today/sites/default/files/inline-images/ada3_104.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ADAUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the weekly chart, the picture is also bearish. If the candle closes around the current prices, one can witness a test of the nearest support level of $0.3165 soon.
ADA is trading at $0.3658 at press time.

Cardano (ADA) Prediction for August 3

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