ADA Token Slides 2.55% Amid Surging Volume and On-Chain Activity, Testing Key Resistance Levels

Cardano (ADAUSDT) is currently trading at $0.5762 on Binance, reflecting a 2.55% decline over the past 24 hours from an opening price of $0.5913. The price decrease is attributed to a combination of technical factors, including ADA’s failure to sustain levels above key resistance at $0.5925 and ongoing consolidation after breaking a bearish trend line. Despite positive network fundamentals, such as surpassing 111 million transactions and maintaining over 1.3 million staking addresses with 62% of supply staked, short-term sentiment remains cautious as technical indicators show mixed signals—MACD is bullish, but the RSI is only modestly above 50. Increased trading volume, up 83.8% to over $584 million, suggests heightened market activity, potentially in response to recent volatility and on-chain metrics that have surged by 99%. ADA’s price remains well below its all-time high of $3.10, with current market capitalization estimated between $20.36 billion and $20.86 billion, and circulating supply near 36 billion ADA.