The Cardano price is struggling to gain upward traction as bearish sentiment continues to weigh on the market. After briefly reclaiming $0.64, ADA has resumed its downward drift, trading at $0.626 as of today, with a near 1% decline on the 4-hour chart. Price action has been tightly compressed, revealing a clear lack of bullish conviction while support zones are increasingly being tested.
What’s Happening With Cardano’s Price?
After recovering from the $0.613 range last week, ADA attempted a mild rebound toward $0.653 but was swiftly rejected at the dynamic 100 and 200 EMAs. This rejection marked a continuation of its broader downtrend visible on the daily and 4-hour charts. The current Cardano price action shows lower highs and relatively flat support retests, suggesting sellers continue to dominate.
The Bollinger Bands on the 4-hour timeframe remain narrow, pointing to declining Cardano price volatility, while the price consistently trades near the lower band—typically a bearish sign unless followed by a strong reversal. Meanwhile, price is again nearing the bottom of its multi-month descending channel, as sho…
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