Cardano (ADA) dipped below the moving averages on September 15, indicating that the bears have maintained the pressure.
The ADA/USDT pair is forming a bearish descending triangle pattern, which will complete on a break and close below the crucial support at $0.31. This could start a downward move towards the next major support at $0.24.
The bulls will have to push and sustain the price above the downtrend line to invalidate the bearish setup. The pair could rally to $0.40 and later to $0.46, where the bears could mount a strong defense.
