Cardano Price Analysis: ADA/USD sharply retraces to $2.5 on the 4-hour chart

TL;DR Breakdown Our 24-hour Cardano price analysis is bullish ADA/USD dropped sharply on the 1-hour chart to $2.569Cardano is holding support at $2.600 Our 24-hour Cardano price analysis is bullish after the market reversed to a daily high of $2.87 and respected the $2.50 support over the previous 24 hours. We are therefore anticipating another rally in the course of the day, but there must be a slight retracement before building momentum for further upsides. However, we observed a sharp decline on the hourly chart at the writing of this, which saw Cardano(ADA) rapidly drop by 5 percent from $2.87 to $2.568. Cryptocurrency heat map. Source: Coin360 The general cryptocurrency market is trending within the green zone on the daily cryptocurrency heatmap by Coin360. Bitcoin went up by 1.50 percent to $52K, Solana gained 32 percent and hit the $190 level while XRP gained 2.22 percent to reach $1.35.  Cardano price movement in the last 24 hours: ADA/USD retraces to $2.568, strong $2.5 support prevents further downsides The 24-hour Cardano price analysis candlesticks recorded a broad daily range from $2.568 – $2.875, hence suggesting high volatility. Cardano’s total trading volume increased by 23 percent and totals $5.6 billion. On the other hand, Coin Market Cap recorded a total market capitalization of $86 billion and ranked the scalability solution token at position #3.  ADA/USD 4-hour chart: ADA set to rally...