When can ADA return to the $0.40 zone? CardanoStiftung ADAcoin_ Cardano cardano Cardano_ emurgo_io CardanoCommunity
On the hourly chart, the price of Cardano has broken the local support level at $0.3940. At the moment, traders should pay attention to that mark. If nothing changes, the decline may continue to the $0.38 zone shortly.
On the daily time frame, bears might have locally seized the initiative as the rate has broken the important $0.40 mark. While the price is below it, there is a higher chance to see a further decline.From another point of view, ADA is located in the middle of the channel, which means that the more likely scenario is sideways trading in the narrow range of $0.39-$0.40.
On the weekly chart, the candle is about to close far away from the key levels, which means that the altcoin has not accumulated enough power for a further move. That is why the price of Cardano is likely to be located near the $0.40 mark next week.
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