The price of Cardano (ADA) has declined below the $0.3565 level and is consolidating above $0.3420. Although Bitcoin and Ethereum are not experiencing the same decline, ADA has struggled to continue higher. The price dropped below key support levels at $0.3550 and $0.3500, reaching a low of $0.3394 before finding some support. However, there was a minor move above the $0.3420 level, clearing the 23.6% Fib retracement level. The price also broke above a bearish trend line with resistance at $0.3460. ADA is currently trading below $0.350 and the 100-hourly simple moving average. On the upside, resistance could be faced at $0.3515, $0.3550, and $0.3620. A close above $0.3620 could initiate a strong rally towards the $0.3700 region, while failure to climb above $0.350 may result in another decline. Immediate support levels are at $0.3420 and $0.3400, and a downside break below $0.3400 could open the door for a test of $0.3220. The next major support is near $0.3100. Technical indicators indicate a bearish trend, with the MACD losing momentum in the bearish zone and the RSI falling below the 50 level.



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