$ADA /USDT: Struggling to regain momentum after a sharp decline
Cardano (ADA) is currently trading at $0.6486, down 2.36% in the last 24 hours, showing signs of weakness after failing to hold above the short-term resistance level near $0.68–$0.68. The chart indicates a clear bearish structure, with the 7-day RSI hovering right at the price level, while the 25-day (0.74) and 99-day (0.81) moving averages remain well above — confirming ongoing downward pressure.
The recent bounce from the support zone at $0.53 indicates that buyers are attempting to defend key levels, but momentum remains limited as volumes have cooled off after the initial recovery. For a bullish reversal, ADA must close and hold above $0.68–$0.70; otherwise, another retest of $0.60 or below is possible.
Trend bias: Bearish to Neutral
Key resistance: $0.68 – $0.74
Key support: $0.60 – $0.53