Cardano Price Analysis: ADA retraces to $2.720, will the coin consolidate?

TL;DR Breakdown Our daily Cardano price analysis is bearishThe daily chart indicated a tight daily range of $2.7200 – $2.7790 Bulls attempted to overcome the $2.772 price  on the 4-hour chart but met rejection. On our daily Cardano price analysis, ADA/USD pair is trading bearishly on the 24-hour candlesticks as the bears pull the market lower to the $2.77 price mark. Traders are hence anticipating the market to continue moving downwards and hit their next target support near $2.46. The overall cryptocurrency market is trading with mixed results. Losers include  Bitcoin and Solana with a 1.24 percent and 3.45 percent loss respectively. Ethereum and Ripple gained 6.68 percent and 4.91 percent respectively. The best performer turned out to be Polkadot with a net positive gain of 15 percent.  Cardano price movement in the last 24 hours: ADA slowly retracing The 24-hour candlesticks on our Cardano price analysis are red with little signs of volatility as indicated by the tight daily range of $2.7200 – $2.7790. Cardano’s trading volume fell by 7.2 percent since yesterday and totals $4.292 billion. ADA is ranked at position #3 by Coin Market Cap with a market capitalization of $88.08 billion.  ADA/USD 4-hour chart: Are ADA bears still targeting $2.46 support again? Our Cardano price analysis indicates the bulls have attempted to overcome the $2.772 price zone on the 4-hour chart but have met reje...