![Cardano [ADA] would need to climb past this level to break its bearish movement](https://i.headtopics.com/images/2022/7/16/cryptoamb/cardano-ada-would-need-to-climb-past-this-level-to-break-its-bearish-movement-1548333471319224320.webp)
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. There was an influx of developers into the Cardano [ADA] Github development network in recent months. Despite developments on the technical side, the sentiment remained bearish. On the price charts as well, the trend […]
remained bearish. On the price charts as well, the trend was downward on the longer timeframes. This was an obvious sign of fear in the market and a lack of buying volume. In the next month or two, Cardano could post further losses on the charts if the $0.4 level was ceded to the bears.A range from $0.44 to $0.64 was established over the past two months. The mid-point of this range lay at $0.
ADA registered a series of lower highs since reaching the range highs in June. The price also fell beneath the range lows and retested $0.44 as resistance, which was not a good sign for the buyers.
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