Cardano (ADA) Price Declines by 4.93% Amidst Bearish Market Trends

Cardano's (ADA) price has fallen 4.93% today, nearing the local support of $0.3576 on the hourly chart. If the daily bar closes near its low, a test of the nearest support of $0.3468 is possible. From a midterm perspective, a weekly bar closure at current or below prices could lead to a downward move to $0.2756 by the end of the month. ADA is currently trading at $0.3605.