Cardano (ADA) declined significantly over the past few days, resulting in a price drop of 22.6%. ADA price seen losing another 14% in the coming days Cardano buyers drop support at the 20-day EMA ADA intraday trading volume registers a 104.6% gain The expanded selling activity results in the offshoot of the critical supporting EMAs that are attempting to break the support zone of $0.45. So, this provides an opportunity for buyers to take advantage of price drops. Related Reading: FLOW Reclaims Green Turf After 7-Day Losing Streak Cardano Shows Bullish Reversal The ADA/USD price shows a bullish reversal swinging from $0.4 forming a rising channel pattern with a price spike of 47.5%. On the other hand, the price rejection presents at the $$0.595 level support the 22.6% price decline; that shreds below the support trendline. As of this writing, ADA price shows a bearish movement as it trades at $0.4551 or a decline of 3.07%, according to CoinMarketCap. On the daily chart, the ADA price demonstrates the formation of a triple black crow pattern that shows some significant struggle with hedging on support $0.45. More so, the intensified selling pressure is apparent especially with the sudden surge in intraday trading volume plus the appearance of long-wick candles. The bearish continuance seen over the daily chart strengthens the possibility of ADA having a downtrend or falling below the key support zone of $0.45. With that in mind,...
