Cardano (ADA) appears to be heading toward a new record high as its downside move takes the shape of a bull flag.
In detail, the ADA/USD exchange rate plunged 16.91% to $2.47, but the pair’s decline came after a strong move higher, wherein it surged over 120% month-to-date to reach an all-time high of $2.97 on Monday. Therefore, the latest declines have given the impression that Cardano is undergoing a brief pause before it resumes its uptrend.