⚠️ ADA ON THE EDGE: CAN CARDANO AVOID A DEEPER CRASH? ⚠️
Cardano (ADA) is facing renewed selling pressure as it struggles to maintain its footing above key support levels. The price recently dropped below $0.70, signaling a bearish shift and suggesting that the worst may not be over yet.
Unlike Bitcoin and Ethereum, which have held relatively steady, ADA has shown weakness, slipping under the critical $0.70 mark and trading below its 100-hour simple moving average. The ADA/USD pair even broke a key bullish trend line near $0.6840, confirming short-term bearish momentum.
After reaching a low of $0.6626, Cardano is now consolidating. Immediate resistance is near $0.6720, with a more significant barrier at $0.6825—also the 50% Fibonacci retracement of the recent drop. A successful close above $0.6920 could potentially trigger a rally toward $0.7350 or even $0.750.
However, if ADA fails to reclaim $0.6825, it risks slipping further. Immediate support lies at $0.6625, followed by a crucial floor at $0.650. A break below this level may expose the token to losses toward $0.620 and possibly $0.60, where buyers might step in.
Technical indicators back the bearish case. The hourly MACD is in the red zone, and the RSI is below 50, reflecting negative sentiment.
Cardano holders should brace for volatility, as the coming sessions may determine whether ADA recovers—or dives deeper into bearish territory.
