#ADA Price Analysis

The rebound in Cardano (#ADA ) failed to break the neckline of the head and shoulders (H&S) pattern and the price turned down, indicating that the bears are still in control.

Bulls are likely to defend the $0.80 support with all their might. If the price rebounds from $0.80 and breaks above the 20-day EMA ($0.96), it will indicate that the correction may be over. A break above $1 may force aggressive short covering, which in turn may drive the price to $1.20.

On the contrary, if the price continues to decline and breaks below $0.76, it may mean the resumption of the downtrend and the ADA/USDT pair may move down towards the pattern target of $0.50.