Cardano (ADA): has broken down from a consolidation pattern After Bearish Breakout

Cardano(ADA) is following a long-term descending resistance level. it has broken out from a symmetrical triangle. 

Cardano(ADA) is begun the fifth and final wave of a downward movement. 

Cardano(ADA) has broken down from a consolidation pattern that had been in place since May 12. 

Cardano (ADA) has been decreasing since reaching an all-time high price of $3.10 on Aug 2021. the downward movement has followed a descending resistance level and led to a low of $0.40 on May 12, 2022. 

Cardano(ADA) price has stopped its decrease and has actually bounced slightly it is now hovering just above $0.42.

The live Cardano(ADA) price today is $0.416203 USD with a 24-hour trading volume of $377,692,033 USD. Cardano is down 1.38% in the last 24 hours. The current CoinMarketCap ranking is #8, with a live market cap of $14,262,530,625 USD. It has a circulating supply of 34,268,181,624 ADA coins and a max. supply of 45,000,000,000 ADA coins.

Cardano(ADA) price statistics the price change of 24h is -$0.00542 of 1.28% and 24h low is $0.4138 and 24h high is $0.4263 with 1.52% Market dominance. 

The closest support area is at $0.36 the breakout from the latter was the catalyst for the beginning of the upward movement toward a new all-time high. 

Cardano's (ADA) price has yet to reach a significant horizontal support level. also, the RSI has yet to break out from its bearish line. 

The daily chart of Cardano(ADA) is showing trading inside a triangle since the aforementioned May 12 low. while the symmetrical triangle is considered a neutral pattern form it is the most likely scenario. 

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