Cardano price registered bearishness as it declined from the $0.48 level at the time of writing. Over the last 24 hours, the coin fell by over 2%. In the past week, it declined by 12%. Bitcoin’s move to the $20,000 had led to other altcoins falling on their charts as well. ADA was managing to appreciate slowly however, the bulls could not sustain the price momentum at the time of writing. The altcoin had managed to trade near the $0.48 price level but it was met with selling pressure as it could not move above the $0.49 resistance mark. The technical outlook for the coin shifted towards bearishness as soon as the coin touched the $0.44 price level. The immediate support for ADA was at $0.43. Sellers had taken over the market at the time of writing. The coin recently broke below the support line of $0.44, it had managed to trade above that level for a significant period of time. Lack of demand has caused Cardano price to further lose value. The global cryptocurrency market cap today is $1.05 Trillion after a 4.4% negative change in the last 24 hours. Cardano Price Analysis: Four-Hour Chart ADA was trading for $0.44 at the time of writing. There has been a sharp decline in the price of the altcoin after it revisited the $0.48 level. The support level for the coin stood at $0.42 and a fall below that could cause ADA to trade at $0.38. Overhead resistance for the coin stood at $0.49. If the buying strength resurfaces then a ...
