We're waiting for Cardano's next big move

ADAUSDT

Cardano's recovery came to a halt near the breakdown level of $0.30, indicating that bears are fiercely defending this level. If the bulls fail to push the price above $0.30, the ADA/USDT pair may turn downwards and slide towards the support at $0.24. A strong rebound from this level could keep the pair range-bound between $0.24 and $0.30 for a few days.

On the other hand, if buyers manage to drive the price above $0.30, it would suggest that the decline may have ended in the near term. The pair could then rise towards the 20-day EMA ($0.32) and subsequently target the 50-day SMA ($0.36).