- ADA drops over 2%, trading at $0.6283 amid weak market sentiment and low volume.
- Price stays below key levels, including the 9-period DEMA ($0.6493) and Bollinger midline ($0.6803).
- Failure to reclaim $0.6450 may lead to a retest of $0.6193 or a deeper drop toward $0.60.
- Resistance between $0.70–$0.84 remains strong; ADA needs a breakout above $0.68 to regain momentum.
Cardano (ADA) is trading at $0.6283, down over 2% in the latest session. This decline comes as part of a broader downturn in the crypto market, with altcoins facing pressure from low volume and a cautious investor environment.
Earlier Cardano attempts to recover above $0.70 were short-lived, and the token has since struggled to attract buying interest. Market sentiment remains neutral to bearish, with traders watching for stronger signals before re-entering positions.
Cardano (ADA) Needs Recovery Above $0.68 to Avoid Deeper Drop
From a technical view, ADA has broken below its 9-period DEMA, now at $0.6493, indicating short-term weakness. It is also trading under the Bollinger Band midline ($0.6803), reinforcing the downward bias. This confirms a shift from consolidation to bearish continuation.
Support levels around $0.62 have previously held, but the current structure shows sellers in control. If ADA fails to reclaim $0.6450 soon, it could test the lower boundary at $0.6193 or extend toward $0.60.
Resistance remains firm between $0.70 and $0.84, with $0.7073 and $0.8415 acting as visible caps on any upside. To reverse the trend, ADA would need a clear break and close above these levels with strong volume.
Overall, ADA’s short-term outlook leans bearish unless it can regain key technical levels. Traders may remain cautious unless signs of strength emerge above $0.68.
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