Cardano Price Technical Analysis – ADA/USD to Decline Further?

Key HighlightsADA price faced a lot of sellers and moved below the $0.4000 support against the US Dollar (tethered).
There is a declining channel forming with current resistance at $0.3950 on the hourly chart of ADA/USD (data feed via Bittrex).
The pair is likely to decline further and it could even break the $0.3500 support area in the near term.Cardano price is trading in a bearish zone against the US Dollar and Bitcoin. ADA/USD may extend the current decline below the $0.3500 support area.
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