Cardano isn’t looking strong. For the past two days, it has sustained below 0.00002460. The next support lies way lower at 0.00001690.
At the moment, the bulls and the bears are seeming to be in a state of equilibrium. The intraday ranges have shrunk for the past two days. We may see a few days of small ranges; after that, we expect a large range day. It is still difficult to forecast whether the large range day will be on the upside or the downside.
I still remain bearish on the ADA/BTC pair as long as it trades below the downtrend line and the 20-day EMA.