✅ Cardano (#ADA ) faces short-term decline, hampering recovery

🟢 Cardano (ADA) price meets the redemption initiation criteria; However, the chances of a successful rally are bleak. This is because ADA holders do not advance in terms of participation, which creates a skew in interest and performance.

⚪Cardano price recently faced a major setback as it failed to break out of the symmetrical triangle pattern, instead, it collapsed and fell to $0.40, indicating a bearish shift for the cryptocurrency.

🔵 This move raised concerns among investors and analysts who were hoping for an upward breakthrough. 🔲Therefore, the likely outcome for ADA is now a sideways movement between $0.43 and $0.40#EarnFreeCrypto2024 .

🔴However, if the altcoin does not bounce from $0.40, it may break below it. This will result in the Cardano price forming a six-month low, falling to $0.38, and invalidating the bearish thesis.