Cardano (ADA) Struggles Deepen: Price Slips Further, Investors on Edge

Cardano (ADA) has recently experienced a price decline, falling below $0.70. The price is currently consolidating after breaking below a bullish trendline around $0.6840. ADA is trading below both $0.70 and its 100-hourly simple moving average. Immediate support is near $0.6625, with further support at $0.650 and $0.620 if the decline continues. Resistance levels are seen at $0.6825 and $0.700. A potential upward move could target $0.7350 and even $0.750 if resistance is overcome. Conversely, failure to break above $0.6825 could lead to another price drop. Technical indicators like the MACD and RSI suggest bearish momentum. The overall sentiment indicates a bearish trend in the short term.