ADA Slides 3.6% Amid Volume Surge as Cardano Faces Key Resistance and Ford Blockchain Test

Cardano (ADA) experienced a 3.60% price decline over the past 24 hours on Binance, dropping from 0.5980 to 0.5765. This downward movement is primarily attributed to continued bearish sentiment and technical weakness, as ADA remains below all major moving averages and faces resistance at $0.64 following a recent support breakdown. Increased trading activity, including a 30% surge in 24-hour volume, suggests heightened market response to the price drop and ongoing consolidation near the $0.58–$0.61 demand zone. Additional factors influencing sentiment include community debate over a proposal to convert part of Cardano’s treasury into Bitcoin and news of Ford Motor Company testing Cardano’s blockchain for secure data storage. Currently, ADA is trading at 0.5765 with a market capitalization of approximately $20.6 billion, consolidating in a tight range with low momentum and awaiting a clear catalyst for directional movement.