The price of Cardano (ADA) has been declining by 20% over the past 30 days, indicating a bearish sentiment in the market. Technical indicators like the ADX and Ichimoku Cloud suggest that this downward trend could intensify further. The ADX is rising, indicating that bearish momentum is gaining traction. The Ichimoku Cloud chart also shows a predominantly bearish setup, with the price positioned below the red cloud and the cloud's red color reflecting a bearish sentiment. The support level at $0.859 is a critical level to watch, as a failure to hold this support could lead to further downside momentum. On the other hand, if ADA reverses its trend and gains upward momentum, it could test the resistance level at $0.91 and potentially rally further.



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