The majority of cryptocurrencies are experiencing a decline, but Cardano (ADA) has seen a 1.17% increase in the past 24 hours. However, on the hourly chart, ADA's price is falling after breaking through a resistance level. If the downward trend continues, ADA's price may test the $0.57 zone soon. On a larger time frame, ADA is far from key levels and the daily bar is not at its peak, indicating a bearish signal. If the current situation persists, traders may witness further decline to the $0.55 area. In the midterm, ADA's price is neither bullish nor bearish, as it is trading within yesterday's range. Sideways trading between $0.50 and $0.65 is likely until the end of the month. At present, ADA is being traded at $0.5874.



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