ADA Price Tanks as Bearish Pressure Builds: How Low Can Cardano Go?
Cardano (ADA) is flashing multiple warning signs right now, and the chart tells a story that’s hard to ignore. From the price structure to momentum indicators, the setup is clearly tilted toward more downside. If buyers don’t step in soon, ADA price could face even deeper losses.At the moment, the ADA price is stuck inside a descending channel. This kind of structure typically signals a continuation of a downtrend, and ADA has been respecting it perfectly. Each time the price tries to move higher, it gets rejected and falls right back inside the channel. The latest bounce attempt was no different, ADA got rejected mid-channel and is now dropping again.
Right now, the Cardano price is hovering around $0.63, just above a key support zone near $0.548. If that support breaks, the sell-off could get even more intense. We could be looking at a drop toward $0.45 or possibly even $0.40 if the momentum keeps fading. That would mean a serious hit to ADA holders who were hoping for a reversal.
Momentum Indicators Still BearishThe MACD indicator is not giving any hope at the moment. It shows a bearish crossover, with the MACD line falling under the signal line. The histogram has flipped back to red, signaling that downward momentum is increasing. This tells us that sellers still have control, and there’s no clear sign of a shift yet.
The RSI isn’t helping the bulls either. It’s currently around 37, which is close to oversold territory but not quite there. This means there’s still room for more selling before a relief bounce might happen. Since early June, the RSI has been forming lower highs and lower lows, following the same pattern as the price.
Whale Activity Raises More Red Flags
To make things worse, whale activity is adding more pressure to the downside. On X (formerly Twitter), popular analyst Ali (@ali_charts) revealed that large holders have sold over 270 million ADA in just the past week.
