$ADA Cardano Price Analysis :

Cardano has been moving within a declining channel pattern for a number of days, suggesting that bears are taking profits during rallies.

Although the bullish divergence on the RSI implies that the selling pressure may lessen, the downsloping moving averages still favour bears. The bulls will attempt to drive the price closer to the resistance line of the channel once more. A significant rebound may be underway if there is a break and closure above the channel. Alternatively, a decline in price and a breach below the channel will signal a strengthening of the negative trend. After that, the $ADA pair might fall to $0.25.

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