ADA Token Sees 6.72% Price Drop After Five-Month High Amid Strong Trading Volume and Market Volatility

Cardano (ADAUSDT) experienced a 6.72% price decline over the past 24 hours, with the current price at 0.9084 USDT on Binance. The recent price movement is attributed to high futures open interest, increased whale accumulation, and bullish technical signals such as a golden cross, which initially drove ADA to test resistance levels near $0.98. However, after reaching a five-month high, ADA faced selling pressure and rejection at key resistance points, leading to consolidation and a pullback amid broader market volatility. Despite the short-term decline, trading volume remains robust, with 276.77 million ADA traded on Binance and a total market capitalization of approximately $32.99 billion, reflecting continued investor interest and active market participation.