After major support is broken down, a retest to the support level usually happens before a further downtrend, and Cardano(ADA) is experiencing it. The price turned down after briefly touching $0.4155, indicating lots of selling pressure over there.
If the price turns up and breaks above the 50-day EMA, it will suggest that the drop below $0.415 may have been a bear trap. The pair could then be up to $0.60.
If the price turns up and breaks above the 50-day EMA, it will suggest that the drop below $0.415 may have been a bear trap. The pair could then be up to $0.60.