Cardano (ADA) is up 1% at press time on Friday, reversing after two consecutive bearish days. Still, the price action points to a declining trend within a falling channel, as bearish momentum remains intact.
Cardano (ADA) trades in red on Tuesday at the time of writing, hovering around its key support level at $0.72. A decisive close below this level could trigger a correction. ADA’s falling daily active addresses and Decentralized Exchange (DEX) trading volume further support the bearish outlook.
Cardano (ADA) price drops and trades at $0.6046 at the time of writing on Wednesday, falling from $0.6437 and marking a 6.08% decline in the last 24 hours. The daily trade volume climbed by 12.26% to hit $743,957,532.58.