Cardano released the weekly development update on 10 February. It highlighted some notable statistics but did not shore up buyer confidence in the short term. Instead, the price retested $0.37 as resistance before another move downward.

Over the weekend, Bitcoin showed little impetus on the price chart. It oscillated from $21.6k to $22k, a fluctuation of close to 2%. Monday’s high and low could establish a range for the week. A move below $21.6k could herald further losses across the altcoin market, including ADA.

The 1-hour bullish order block at $0.38 was broken convincingly on 9 February. The two days of trading prior to that move downward saw weak bounces from this area. A move upward to $0.4 turned out to be a bearish retest before the slump that followed.