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Bulls could not continue the weekend’s rise, and all of the top 10 coins are in the red zone.
The rate of Cardano (ADA) has dropped by 2.17% over the last 24 hours.
On the daily chart, the rate of Cardano (ADA) has bounced off the resistance at $0.3980. At the moment, the price is trading near the support level at $0.3780. However, if the daily closure happens near it, the drop may lead to the test of the $0.36 area shortly.
ADA is trading at $0.3811 at press time.
Solana (SOL) is less of a loser than Cardano (ADA), going down by 1%.
On the daily time frame, the price of Solana (SOL) has come back to the support at $23.65. The selling volume has increased, which means that bears may have locally seized the initiative.
In this case, the breakout of the mentioned mark may be a prerequisite for a fall to the $22 zone. Such a scenario is relevant until mid-February.
SOL is trading at $24.30 at press time.