Black lines- bearish channel
Cardano price is around $0.48 almost where it was back in the beginning of May. Price remains trapped inside a downward sloping bearish channel. For the last two months price is mostly moving sideways. Resistance by the bearish channel is found at $0.535. The RSI has moved above oversold levels into neutral territory. A rejection at current levels could lead to new lows in Cardano towards $0.30. Traders need to be cautious. There is no sign of a reversal in trend.
