Cardano (ADA) experienced a decline starting from the $0.3850 resistance level, slipping below $0.350 and the crucial moving average. The price formed a short-term top after failing to push past the $0.4150 resistance, leading to further losses.
ADA is consolidating above $0.3350, with potential recovery resistance at $0.3480. The bearish trend might continue if it remains below $0.360. A successful breach of the $0.3740 mark may result in a bullish rally, targeting $0.400 and potentially $0.4150.
If ADA doesn't break the $0.3500 resistance, it risks a decline, testing supports at $0.3400, $0.3350, and potentially falling to $0.3220. Technical indicators show momentum in bearish zones with the MACD and RSI implying bearish pressures.
