Stronger-than-expected US ISM services PMI data pointing to a resilient US economy in the middle of the third quarter and, along with stronger-than-expected US labor market numbers expected from last Friday, keep the pressure on the US Federal Reserve. Risk appetite and cryptocurrency prices on Monday. ADA was no exception.
Blockchain-native cryptocurrency Cardano last changed hands about 1,5% lower on the day and is down about 1,8% over the past 24 hours according to CoinMarketCap. ADA/USD last traded at €0,31, having reached almost €0,33 earlier in the session. The recent drop marks a bearish breakout of the uptrend channel that ADA/USD had moved higher in the past few days. As a result, short-term price predictions have become less optimistic.