The analysis of Cardano (ADAUSD) suggests an ongoing bearish correction, which has lasted for over a year. While current price hovers around a 'bull market support' zone, the speaker expresses low conviction in immediate bullish reversals and expects further downside. Key support levels are identified around 32.2 cents and 26.8 cents, with a primary bearish target at the latter. A 'micro' bullish setup on the 30-minute chart is acknowledged but not trusted due to the broader market context. For any serious bullish momentum to be considered, Cardano would need to break above a critical resistance area between 38.9 cents and 42.5 cents. The invalidation of the speaker's bearish outlook is marked by a break above 42.5 cents, while a decisive move below 21.6 cents would invalidate a long-term bullish structural setup. The overall bias remains bearish until a significant upside impulse is observed.