The price of Cardano (ADA) has dropped significantly in recent times following the crash of Ethereum. However, ADA is still faring better than ETH. Against USDT, ADA has been consolidating within a descending channel pattern between $1.2 and $0.8. During the crypto market crash, ADA broke below its 200-day moving average at $0.6 but quickly rebounded higher. Currently, ADA is attempting to hold above the $0.8 support level, which is important for any potential bullish movement. The ADA/BTC chart shows a similar pattern, but ADA is weaker compared to BTC. The market has lost a key support level at 900 SAT and is currently testing the 200-day moving average around 750 SAT. If a breakdown occurs, a drop towards the 500 SAT level could be expected. However, the oversold signal from the RSI suggests a possible pullback towards the 900 SAT level.



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