Facing Cardano
ADAUSDT
Short-term decline, which hinders recovery
Meets Cardano price
ADAUSDT
recovery 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.
The move raised concerns among investors and analysts who were hoping for an upward breakout. Therefore, the likely outcome for ADA is now a sideways movement between $0.43 and $0.40.
However, if the altcoin does not bounce from $0.40, it may break below it. This will cause Cardano price to form a six-month low, falling to $0.38, invalidating the bearish thesis.
