Cardano (ADA) Faces Fresh Decline: Key Drivers Behind The Downtrend

Cardano (ADA) Faces Fresh Decline: Key Drivers Behind The Downtrend

Cardano price failed to surpass $0.40 and started another decline. ADA is now trading below $0.3850 and might extend losses in the near term.


  • ADA price started a fresh decline and traded below $0.3880.

  • The price is trading below $0.3850 and the 100-hourly simple moving average.

  • There was a break below a key bullish trend line with support at $0.3845 on the hourly chart of the ADA/USD pair (data source from Kraken).

  • The pair could extend losses and test the $0.370 support zone.

  • Cardano Price Dips Again


    In the past few days, Cardano attempted a recovery wave above the $0.3650 zone like Bitcoin and Ethereum. However, ADA failed to clear the $0.40 resistance zone. A high was formed at $0.3967 and the price started a fresh decline.


    There was a move below the $0.3880 and $0.3865 support levels. The price declined below ..

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