Cardano shell at $0.65! If it holds, it’s a reversal; if it doesn’t, another round of decline?

ADA is currently in a stalemate, fluctuating in the range of $0.654 to $0.678, overall maintaining around $0.662. From the peak in April, it has already retraced nearly 10%, and technically has formed a weak structure — the key point is that it broke below the upward trend line last week, and the bears have taken control of the rhythm.

But note that after this wave of decline, ADA has firmly held above $0.65. If this level cannot be maintained, the bears will regain strength, and the market may continue to test lower levels; conversely, as long as it holds steady, this forms the basis for a local bottom.

Interestingly, Nasdaq has quietly submitted documents to prepare to include ADA in a new cryptocurrency index benchmark, alongside XRP, SOL, and XLM, pushing into the forefront. Although we are still waiting for regulatory approval, this matter has released a clear signal: mainstream investors are starting to seriously consider altcoin blue chips.

On the technical chart, there is potential for a crossover between the 50-day and 200-day moving averages, and if a “golden cross” forms, it will be a bullish signal; however, the RSI has already broken below the trend line, indicating that the rebound momentum is waning — in other words, ADA is currently at a crossroads: it needs to break above $0.77 to $0.80 to find a new direction, and if it loses the $0.635 support, it will continue to drop.