🔻 Cardano (ADA) Drops to $0.66: Can the Bulls Hold the Line?
At the start of June 2025, Cardano (ADA) continues to face bearish pressure.
As of June 2, ADA is trading at $0.6822, down 0.93% in the past 24 hours.
The daily price range was between $0.6575 and $0.6886.
(Source: TradingView)
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📉 Technical Analysis
• Current Price: $0.6822
• Key Support Levels: $0.6380, $0.6000
• Key Resistance Levels: $0.6780, $0.6950, $0.7230
• Indicators:
• RSI: 41.88 (bearish momentum)
• MACD: bearish crossover
• Stochastic RSI: oversold (<5), possible bounce
• Ichimoku Cloud: price near the lower edge, potential breakdown ahead
(Source: CryptoNews)
These signals suggest continued downward pressure, with a potential drop toward $0.60 unless a strong bounce occurs.
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🔍 Fundamentals
• Whale Accumulation:
Large investors have added 170 million ADA to their holdings, signaling long-term confidence in the project.
(Source: CCN)
• Ecosystem Growth:
Cardano now supports over 2,002 projects, including a major milestone—Bitcoin Ordinals are now bridged to the network via BitVMX.
(Source: Binance Square)
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📈 June 2025 Outlook
Analysts forecast ADA to range between $0.679 and $0.884, with an average expected price around $0.749.
A daily close above $0.7050 is needed to confirm a bullish reversal.
(Source: CoinCodex)
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📊 Summary
Cardano is facing short-term technical challenges, but its fundamentals remain strong.
Investors should monitor critical support/resistance levels and broader market sentiment carefully.
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Disclaimer: This post is for informational purposes only and does not constitute investment advice. Always conduct your own research before making financial decisions.