Cardano (ADA) is finding it difficult to climb above the downtrend line of the descending triangle pattern, but a minor positive is that the bulls have not allowed the price to dip below the moving averages.

Buyers will make one more attempt to propel the price above the downtrend line. If they can pull it off, it will invalidate the bearish setup, which is a bullish sign. The ADA/USDT pair could rise to $0.40 and then to $0.46.

Conversely, if the price breaks below the moving averages, it will suggest that the pair may continue to trade inside the triangle for a few more days. The trend will turn negative on a break and close below the triangle.