Cardano Price Analysis: Is a Bearish Trend Brewing?

Analyzing Cardano’s price chart reveals a potentially bearish trend. The 4-hour chart shows the price oscillating within a sideways channel, facing resistance at $0.665-$0.670 and support between $0.640-$0.645. This suggests weakening bullish momentum, indicated by lower highs. The price has struggled to break through the resistance level, leading to a current dip below the 50-period DEMA. This failure above the mid-range hints at underlying bearish pressure.