ADAUSDT In the past three days, Cardano has continued its decline and reached the uptrend line on May 21. This level is crucial as a break below it would indicate weakening control by the bulls.
However, on May 22, there was a strong bounce off the uptrend line, demonstrating the buyers' determination to defend this level. If the bulls manage to push the price above the 20-day EMA ($0.37), it would suggest a reduction in selling pressure.
In such a scenario, the ADA/USDT pair is likely to gain momentum above the 50-day SMA ($0.39). Conversely, if the price turns down from the 20-day EMA and breaks below the uptrend line once again, it would signify the beginning of a deeper correction towards $0.30.
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