ADA Price Slips 2.74% Amid Market Consolidation—Will Cardano Hold Key $0.60 Support Zone?

Cardano (ADA) experienced a 2.74% price decline over the past 24 hours, with the price dropping from a 24h open of $0.6429 to a current level of $0.6253 on Binance. The recent price decrease is primarily attributed to ongoing market consolidation, reduced trading volume, and persistent pressure on buyers as ADA struggles to hold above key support at $0.64. Despite positive ecosystem developments, such as growth in active staking addresses and new project launches, short-term sentiment remains cautious due to recent volatility and the lack of strong bullish catalysts. ADA maintains a market capitalization near $17.4 billion with a circulating supply of approximately 35.68 billion, and trading activity remains subdued as the asset consolidates above the $0.60 support zone.