The Cardano (ADA) price is currently at a critical point between a significant resistance and support level, indicating that a decisive move is imminent. While long-term readings suggest a continued decrease in price, the direction of the future trend will depend on whether the price breaks out or down from these short-term levels.

Technical analysis on the weekly time frame predicts a bearish trend for ADA, with the failed breakout above the resistance area at an average price of $0.41 and subsequent close below considered a bearish sign.

The six-hour time frame shows a bearish trend for ADA until the price manages to break out, with the current price trading just above a convergence of support levels around $0.36. A decisive movement is expected to occur soon, with both a breakout and breakdown remaining possible.