๐ข
๐ง๐ The ADA (Cardano) price is currently going down due to a mix of profit-taking after recent rallies, broader crypto market weakness, and resistance at key price levels around $1.00 to $1.02 that triggered selling pressure.
๐ด
๐ฉ๐ Technical analysis shows that after breaking above a bearish trendline and rallying, ADA faced resistance and sellers pushed it back below major supports near $0.95 and $0.92, weakening the short-term bullish outlook.
โ ๐Reasons for ADA Price Decline๐
โช๏ธProfit-taking after breaking a bearish trendline and brief rally near $0.93โ$1.02.
โช๏ธSelling pressure triggered at resistance zones between $0.95 and $1.02.
โช๏ธBroader crypto market weakness, including Bitcoin dropping below $26K, causing correlated declines.
โช๏ธTechnical support levels get tested, causing pullbacks below $0.90 and other key averages.
โ ๐Positive Medium-Term Outlook๐๐ฅณ๐ฅ๐
โช๏ธStrong institutional interest with $1.2B custodial holdings and growing whale accumulation.
โช๏ธEcosystem upgrades (Vasil and Hydra) and international partnerships enhancing ADAโs long-term value.
โช๏ธAnticipated ETF approvals and positive market sentiment supporting potential rallies to $1.10 and beyond in the coming months.
โช๏ธAnalysts forecast a possible recovery in late August to September 2025, with targets around $1.04 to $1.10 and higher if key resistance is cleared.
๐ต
๐ฅ๐ In summary, the short-term ADA price decline is driven by technical profit-taking and market-wide weakness, while underlying fundamental strength and institutional momentum suggest potential price recovery later this year.
๐ง๐ฉ $ADA ๐ด ๐ข ๐ ๐ต ๐ฃ
๐ช๐ฆ #ADA ๐ฅ ๐ฉ ๐ง ๐ฆ ๐ช
๐ช๐ฅ #AMARVYAS8 ๐ฅณ๐๐๐.
