The Cardano price today is under pressure, trading just above $0.76 after failing to break above the $0.81 resistance for a second consecutive session. While ADA recently staged a strong rally off the $0.58 low, this momentum now appears to be stalling as intraday indicators flash early warning signs of weakness.
With Cardano price volatility tightening and multiple support zones in play, May 16 could define whether ADA resumes its uptrend or confirms a correction.
What’s Happening With Cardano’s Price?
After a clean breakout above descending trendlines on May 9, Cardano price action surged toward the $0.81–$0.82 resistance but has since faced repeated rejection. The 4-hour chart shows a new descending trendline forming from the recent high of $0.8602, while price is now testing horizontal support around $0.76–$0.765.
The weekly Fibonacci chart highlights $0.8008 (Fib 0.5) as a critical pivot, which ADA briefly reclaimed before falling below it again. The rejection aligns with broader weakness across altcoins and suggests the local high may have been set unles…
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