The rate of Cardano (ADA) has declined by 4.76% over the last 24 hours. On the hourly chart, the price of ADA is on the way to the local support at $0.3070.
If the daily bar closes around the current prices or below, the correction may continue to the $0.30 zone by tomorrow. If buyers cannot seize the initiative, traders may witness a further decline to the nearest support at $0.2756. ADA is trading at $0.3099 at press time.
Cardano’s ADA fell about 4.76% over the last 24 hours. On the hourly chart, ADA is approaching a local support near $0.3070. If the daily close remains around the current levels or lower, the correction could extend into the $0.30 zone by tomorrow. Absent a fresh buying surge, a move toward the next support around $0.2756 remains possible, with ADA trading near $0.3099 at press time.
Traders should monitor whether buying pressure returns to the market. If buyers fail to seize the initiative, the downside risk toward $0.30 could persist and push toward $0.2756. Overall, the near-term setup remains bearish as prices hover around key supports. A daily close below $0.3070 or a sustained break of $0.30 would keep the path to $0.2756 in play.
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