CoinStats reports that many cryptocurrencies are experiencing a downturn today. The price of Cardano (ADA) has fallen by 1.63% over the last day. Analyzing the hourly chart, ADA is hovering near its local resistance level of $0.8577. If bulls maintain their momentum and the daily bar closes at current levels, there’s a chance for a breakout, followed by testing the $0.87 mark. However, on longer timeframes, the situation seems less optimistic, with a focus on the $0.8334 level. If the daily bar closes below this mark, accumulated bearish energy could further push prices down to the $0.80 mark. Meanwhile, Cardano’s rate is far from support and resistance levels in the mid-term view. Low trading volume suggests a lack of significant price movements until the end of August.