Mid-term bearish channel!

ADA has hit the bottom of its mid-term bearish channel at $0.30 over the past week after continuing its downward trend, and with a market-wide pullback, Cardano has also been supported, giving it a 7% gain. The bottom line is that mid-term and long-term sellers' strength is still high, and price reaction to resistance levels is still possible. In the 4-hour time frame, there is a past resistance for Cardano, which is in the $0.340-$0.350 range.

Until this level is broken, the short-term trend cannot be bullish. But the price growth can continue up to the range of $0.345. After that, there is a possibility that the price will enter a range area in the 4-hour time frame. If Cardano breaks the resistance of the $0.370 range, it can grow up to the ceiling of the descending channel at the price of $0.420 to $0.440.