ADA Token Drops 7.84% as Cardano Faces Resistance Despite Record DeFi and Institutional Activity
ADAUSDT experienced a notable decline of 7.84% over the past 24 hours, with the current price at 0.7953 USDT on Binance. This price drop is primarily attributed to short-term bearish sentiment following Cardano's failure to maintain key resistance levels near 0.885–0.904 USDT, as well as multiple rejections from important exponential moving averages. Despite recent positive developments such as the launch of Cardano's Mithril mainnet, increased DeFi activity, and growing institutional interest reflected in record open interest, these factors have not offset immediate selling pressure. Technical indicators showed mixed signals, with a recent bullish MACD crossover but an aborted rally toward the $1 mark. Cardano remains among the top 10 cryptocurrencies by market capitalization, with a 24-hour trading volume of approximately $2.37 billion, indicating sustained market activity despite the recent downturn.
$ETH USDT💰 4H Chart update :
• Current Price: $3,627.80 (▼1.01%)
• Trend: Pullback after local high of ~$3,857
• EMA Status:
• EMA(5): 3625.01
• EMA(10): 3644.57
• EMA(30): 3634.57
• Price hovering around EMAs — potential consolidation zone
• MACD:
• Bearish momentum continues
• MACD Line: -46.35
• Histogram deep in red, showing negative pressure
• Volume: Slightly declining; buyers not strongly stepping in yet
$ETH
{future}(ETHUSDT)
📉 Outlook:
If ETH fails to reclaim and close above the 3645–3650 zone, further downside risk toward $3,500–$3,400 remains possible. Watch for reversal signs or bullish divergence on MACD for recovery confirmation.
$ETH USDT💰 4H Chart update :
• Current Price: $3,627.80 (▼1.01%)
• Trend: Pullback after local high of ~$3,857
• EMA Status:
• EMA(5): 3625.01
• EMA(10): 3644.57
• EMA(30): 3634.57
• Price hovering around EMAs — potential consolidation zone
• MACD:
• Bearish momentum continues
• MACD Line: -46.35
• Histogram deep in red, showing negative pressure
• Volume: Slightly declining; buyers not strongly stepping in yet
$ETH
{future}(ETHUSDT)
📉 Outlook:
If ETH fails to reclaim and close above the 3645–3650 zone, further downside risk toward $3,500–$3,400 remains possible. Watch for reversal signs or bullish divergence on MACD for recovery confirmation.