The recent decline of Cardano (ADA) below the $0.3389 support level has sparked concerns of a deeper downtrend. Technical signals indicate strong bearish momentum, with ADA trading below the 100-day Simple Moving Average (SMA) and the 4-hour Composite Trend Oscillator showing negative signals. The daily chart also reflects increased selling pressure and a bearish candlestick pattern. The 1-day Composite Trend Oscillator suggests prolonged losses for Cardano, potentially leading to a period of sluggish price movement. Key levels to watch include the support level at $0.2388, which could serve as protection against further downturns, and the $0.3389 level for potential recovery. Should ADA fall below $0.2388, it may indicate a deeper bearish trend and trigger heightened selling pressure.



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