Cardano is facing a bearish trend with potential for a rebound.
Cardano (ADA) is trading lower, near $0.67, after surpassing key support levels. The next support is $0.6380, with a critical psychological level near $0.6000. The resistances are $0.6780, $0.6950, and $0.7230.
Technical tools show a short-term bearish trend. The Relative Strength Index (RSI) is below the neutral level of 50, indicating weak momentum. The MACD shows a bearish crossover, while the stochastic RSI is in oversold territory, which could allow for a rebound. Some analysts believe that ADA could bounce back if it regains key resistance and overall market sentiment turns positive.
#MyCOSTrade #TrumpVsMusk #MarketPullback #CircleIPO #CUDISBinanceTGE
