Cardano Price Analysis: ADA rejected at $2.44, bears still in control

TL;DR Breakdown Cardano price analysis for today is bearishADA/USD saw little volatility in the last 24-hoursADA resists further upside at $2.44 The Cardano price analysis for today is bearish, as the market has been unable to proceed past the $2.45 mark after a strong rise in recent hours. As a result, we anticipate ADA/USD to retreat and attempt to revisit the $2.20 – $2.30 support area. Over the last 24 hours, the cryptocurrency market has been in a downward trend. Bitcoin dropped 0.78 percent, while Ethereum declined by 2.48 percent. Avalanche (AVAX) is still the most successful, with a gain of 9 percent. Cardano price movement in the last 24 hours: Cardano rejected at $2.45 The price of Cardano declined from $2.80 to the $2.40 zone between Saturday night and Sunday, a price action that was blamed on profit-taking traders. The cryptocurrency’s price has fluctuated in a daily range of $2.4 to $2.442, suggesting little volatility in the last 24 hours. The total trade volume has declined by 28.77 percent and stands at $3.027 billion, while the overall market capitalization trades at around $77.34 billion as of this writing. ADA/USD 4-hour chart: ADA set to reverse again? The Cardano price has rejected further upside on the 4-hour chart, suggesting a reversal is on the way. ADA/USD 4-hour chart. Source: TradingView In the past week, Cardano has seen considerable consolidation in a broad range. ADA/USD began a seve...