📉 Cardano ADA resumed bearish actions this week following a fresh meltdown across the crypto space. The price appears weak as it heads towards a support line, where a major break or bounce is likely to play. 🐻💥

📉 In mid-March, Cardano experienced a serious drop after testing the $0.8 level. It later found solid ground above $0.58 and bounced back for a week. Unfortunately, it saw a rejection and closed the month indecisive after days of consolidation. 📉🔄

📉 Yesterday, ADA’s selling volume increased, and the price broke down from the consolidation phase, bringing the bears back in control. Despite this, the mid-term perspective still favors the bulls. 📉🐂

📉 Right now, ADA faces selling pressure near a crucial ascending trendline since late 2023. A bounce back could occur if this trendline provides support again, bringing the bulls back. However, a dip below this trendline might trigger a sell-off to the current yearly low before finding strong support. 📉📈

📈 ADA’s Key Levels to Watch: Bears are currently testing the $0.59 support level. If breached, the ascending trendline and subsequent support levels at $0.54, $0.50, and potentially $0.46 could be targeted. On the upside, resistance lies at $0.64, with further retests at $0.68 and $0.735 if a rebound occurs. 📊🔍