Cardano (ADA) Faces Fresh Decline: Key Drivers Behind The Downtrend

Cardano price failed to surpass $0.40 and started another decline. ADA is now trading below $0.3850 and might extend losses in the near term.ADA price started a fresh decline and traded below $0.3880.
The price is trading below $0.3850 and the 100-hourly simple moving average.
There was a break below a key bullish trend line with support at $0.3845 on the hourly chart of the ADA/USD pair (data source from Kraken).
The pair could extend losses and test the $0.370 support zone.Cardano Price Dips A