ADA Token Slides 3% Amid Market Uncertainty and Resistance at $0.64 Despite Ford Collaboration

Cardano (ADAUSDT) is trading at 0.5826 on Binance, reflecting a 3.01% decline over the past 24 hours from an open of 0.6007. The recent price drop is primarily attributed to broader bearish sentiment in the cryptocurrency market, technical rejection at key resistance levels near $0.64, and ongoing consolidation around the $0.60 mark. Increased trading volume and volatility have accompanied this move, as traders react to ADA's inability to sustain support above $0.60 and concerns over the proposed treasury allocation to Bitcoin, which has introduced uncertainty. Despite positive developments such as Ford's collaboration with Cardano-based projects and ongoing network upgrades, these have not been sufficient to offset prevailing selling pressure. ADA remains in a consolidation phase, with short-term sentiment cautious and technical indicators showing no clear directional bias.