ADA Token Slides 4.25% as Death Cross and Profit-Taking Weigh on Cardano’s Momentum

Cardano (ADAUSDT) experienced a 4.25% price decline over the past 24 hours, moving from an open of 0.6075 to 0.5817. This drop is likely attributed to a combination of technical factors, including a minor dip amid ongoing market analysis, a recent "death cross" chart pattern, and mixed sentiment following increased supply of ADA in profit, which may have prompted some profit-taking. Additionally, the Relative Strength Index (RSI) at 47 indicates a lack of strong bullish momentum, further contributing to the downward pressure.

Currently, ADAUSDT is trading at 0.5817 on Binance, with a 24-hour trading volume ranging from $585 million to $807 million and a market capitalization between $19.17 billion and $21.06 billion. The circulating supply is approximately 35.38 to 36.13 billion ADA, with Cardano maintaining a position among the top 10 to 11 cryptocurrencies by market cap.