ADA/USDT
Cardano has got to be one of the coins with the most speculation out there. Supporters of this token always chime on to how ADA will be worth $10 someday, while that may be true in the coming years we have to look at what the chart is telling us in the instant to get a better picture of the near-future.
On the daily timeframe ADA rejected off the $3.00 level, failing to form a daily close above it. This tells us that there are lots of sellers around $3.00 and unless we have a serious impulse move up with more buyers than sellers, we will remain under $3.00.
The plus side is that we have very good areas of liquidity around $2.20 to $2.70. The horizontal lines you see marked out on the right hand side of the chart denote possible levels that price may bounce up from if we come to challenge them in the coming days as BTC suffers from its corrective move.
