<ul data-eligibleForWebStory="false">Cardano has experienced significant selling pressure in recent months, leading to a price drop of over 50% since March.The cryptocurrency is currently facing a key support level at $0.57, with bullish implications if this level holds.Analysts have pointed out a bullish divergence in the Cardano chart, suggesting that sellers may be losing momentum.However, there is a bearish scenario if Cardano fails to maintain the $0.53 support, potentially leading to further price drops.