Cardano Price Analysis: ADA/USD Is In Downtrend

Key Highlights

ADA price started a fresh downside move from the $0.1750 swing high against the US Dollar (tethered).

There is a crucial bearish trend line forming with resistance at $0.1600 on the hourly chart of the ADA/USD pair (data feed via Bittrex).

The pair may perhaps continue to move down towards the $0.1550 and $0.1505 support levels.

Cardano price failed to move higher and declined…