Cardano Price Analysis

Bears pulled the price down to the immediate support of $0.63 and are trying to extend the decline to the solid support of $57. If the price rebounds from $0.57, it will indicate that the ADA/USDT pair may remain range-bound between $0.57 and $0.68 for a while.

If the price breaks below the critical support of $0.57, the pair will complete a bearish head and shoulders pattern. This could signal the beginning of a further correction to $0.46. Bulls must push the price above $0.68 to regain dominance.

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