TL;DR Breakdown ADA/USD is trading bearishly on our Cardano price analysis.Cardano traded within a range of $1.9 – $2.1.Supply zone between $2.1 – $2.3 The Cardano price is weakly trading bearishly on our Cardano analysis, following a decline from the $2.40 level to the lower range at $2.35. The bulls were quiet for most of the week after Alonzo’s upgrade on Monday. A downward slide may be caused by increased selling pressure as a result of buying into the Bitcoin and Ethereum declined by 6% in the last 24-hours. The general cryptocurrency market is trading downwards. Cardano and Ripple are also on a declining channel and lost more than 4%. Cardano 24-hour price movement: DeFi will drive ADA accumulation On our 24-hour Cardano price analysis, the pair was observed in a range of $1.9 to $2.1 over the past 24 hours. The narrow range suggests little volatility on the technical charts. After the $2.3 support switched into a price barrier early Monday, the coin has been hanging near $2.1 for most of the week. Cardano 4-hour chart: heightening selling pressure will result in a dip. The price of Cardano attempted to recover and break the $2.4 tiny barrier, but the heavy rejection was met by strong resistance at $2.427, resulting in a medium crimson-candlestick closing on the lower limit of the Bollinger Bands at $2.380. The downward turn of events following the upgrade has frustrated short-term sellers, most of whom are now nu...
