๐Ÿš€Cardano price analysis

๐Ÿ” Cardano (ADA) Trading Dynamics
Cardano (ADA) has been trading below the breakdown level of $0.40 since June 18, with bulls successfully defending the $0.35 support. This indicates a sideways trading pattern between $0.35 and $0.40.

๐Ÿ“‰ Bearish Indicators
The 20-day EMA ($0.40) is sloping downwards, and the RSI remains in negative territory, giving bears a slight edge. A rejection at $0.40 could keep the ADA/USDT pair range-bound.

๐Ÿ“‰ Potential Downtrend
A drop below $0.35 would signal a potential downtrend continuation, potentially leading the pair towards $0.28.

๐Ÿ“ˆ Bullish Scenario
Conversely, a rally above $0.40 would suggest rejection of the breakdown, targeting the 50-day SMA ($0.43) and potentially aiming for $0.50.

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