ADA Token Slides 6% Amid Market Sell-Off, Analysts Eye Bullish Reversal on Key Support Levels

ADAUSDT has declined 6.02% over the last 24 hours, falling from a 24h open of $0.6530 to a current price of $0.6137 on Binance. This price drop is primarily attributed to a broader cryptocurrency market sell-off, which has pushed ADA below key support levels and increased short-term volatility. Despite the recent downturn, technical analysts have identified signs of a potential bullish reversal, with the $0.60–$0.64 range acting as crucial support. Cardano remains among the top 10 cryptocurrencies by market capitalization, and upcoming proposals—such as the plan to convert $100 million in ADA treasury funds into stablecoins and Bitcoin to enhance DeFi liquidity—are being closely watched for their potential market impact. Trading volume has surged alongside the price decline, reflecting heightened market activity and uncertainty.