Cardano's (ADA) price has experienced a slight decline of 0.71% over the past 24 hours, raising concerns among traders and investors. The hourly chart reveals a bearish trend, with the price retreating to the crucial support level of $0.3852. If this support fails to hold, a breakout may occur, potentially leading to a further decline to $0.38.

On the larger time frame, the $0.40 zone serves as a critical intermediate resistance level. A successful breakout could unleash pent-up energy, propelling the price towards the $0.41-$0.42 range. However, the midterm outlook suggests a state of equilibrium, with neither buyers nor sellers exerting significant control. This lack of dominance is further reflected in the low trading volume.

As the market continues to evolve, traders and investors are advised to keep a close eye on these key levels and adjust their strategies accordingly. The fate of Cardano's price hangs in the balance, and only time will tell if the support levels will hold or if a breakout will occur.