• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Altcoin News / Cardano [ADA] Struggles Near $0.32 As Selling Pressure Intensifies
Cardano [ADA] Struggles Near $0.32 As Selling Pressure Intensifies

Cardano [ADA] Struggles Near $0.32 As Selling Pressure Intensifies

January 27, 2021 by Chayanika Deka

It was not until mid-2020 that Cardano [ADA] entered the good book owing to the much-awaited Shelley update. The sixth-largest crypto-asset started a fresh increase at the beginning of the month that led the way for it to climb the sixth position in the crypto ladder.

The bearish momentum continued to pull the altcoin market to undergo severe retracement over the past week. Will ADA survive the current downside pressure?

Cardano [ADA] fell by 6.74% over the last 24-hours pushing the price to $0.32. At the time of writing, the crypto-asset registered a market cap of $10.2 billion and a 24-hour trading volume of $2.38 billion.

Cardano [ADA] Daily Chart:

Cardano
Cardano [ADA] Struggles Near $0.32 As Selling Pressure Intensifies 4

Cardano [ADA] price candles appeared to be oscillating between an ascending channel pattern as the market flipped bullish in the first week of the year.

As per convention, the pattern formation results in a bearish breakout following its completion. The rising gauge between the daily moving average, however, depicted an overall bullish picture. The Fib retracement highlighted crucial resistances and support level for the coin.

Buying Pressure Takes A Back Seat

Caradano 2
Cardano [ADA] Struggles Near $0.32 As Selling Pressure Intensifies 5

MACD formed a weak bearish crossover below zero which has been in continuation since the past week. This essentially depicted that Cardano could see a correction in the near-term.

Owing to the back-to-back bearish onslaught, the Stochastic RSI fell to the oversold region. RSI also depicted an decreasing sentiment of buy-pressure as it looked to approach the 50-median line that has not been tested since the 27th of December 2020.

The above charts and technicals suggested a macro bullish outlook, however, the short-term bearish pressure cannot be negated.

Even as the selling pressure intensified, the crypto-asset is unlikely to sustain a damaging price run down.

Having said that, bears could still pull Cardano’s price to its nearest support level of $0.265. If this price level is not retained, the crypto-asset could further tumble to yet another crucial support point of $0.226.

It found significant resistances from $0.39, $0.43 and $0.49 levels respectively.

Filed Under: Altcoin News, News Tagged With: Cardano (ADA)

Primary Sidebar

Recent Posts

  • Hedera (HBAR) Builds Momentum With $0.4 Bullish Target Ahead July 12, 2025
  • PEPE Skyrockets on Whale Frenzy, Eyes Explosive $0.000020 Breakout July 12, 2025
  • Bitcoin Cup-and-Handle Breakout Nears $118K: Is $150K the Next Target? July 12, 2025
  • Is BlockDAG a Good Investment? Bitcoin Solaris Delivers Certainty with LBank Listing and Mobile Mining Technology July 12, 2025
  • Ethena Surges 20% with Upbit Listing Boost, Eyes $0.52 Resistance Level July 12, 2025

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2025 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.