Cardano (ADA) Faces Intensifying Selling Pressure – Is This the Beginning of a Major Downtrend?

Cardano's ADA token hits turbulence as selling pressure mounts across exchanges.

Market Momentum Shifts

Traders dump positions amid growing uncertainty around short-term price action. The altcoin struggles to maintain key support levels as volume spikes to the downside.

Technical Breakdown

Chart patterns suggest potential trend reversal after months of consolidation. Resistance levels hold firm while buyers retreat to the sidelines.

Ecosystem Impact

Development activity continues but market sentiment overshadows fundamental progress—because nothing says 'decentralized future' like watching your portfolio bleed while traditional bankers collect their bonuses.

Next moves hinge on whether bulls can defend critical price zones or if this slide signals deeper correction territory.

Cardano Price Dips Further

After a steady increase, Cardano faced sellers near $0.880 and started a downside correction, like Bitcoin and Ethereum. ADA dipped below the $0.850 and $0.8320 support levels.

The bears even pushed the price below $0.820. A low was formed at $0.8003 and the price is now consolidating losses. There was a minor increase toward the 23.6% Fib retracement level of the recent decline from the $0.8376 swing high to the $0.8003 low.

Cardano price is now trading below $0.820 and the 100-hourly simple moving average. There is also a key bearish trend line forming with resistance at $0.820 on the hourly chart of the ADA/USD pair.

On the upside, the price might face resistance NEAR the $0.820 zone. The first resistance is near $0.8280 or the 76.4% Fib retracement level of the recent decline from the $0.8376 swing high to the $0.8003 low. The next key resistance might be $0.840.

If there is a close above the $0.840 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.8620 region. Any more gains might call for a MOVE toward $0.880 in the near term.

Another Decline In ADA?

If Cardano’s price fails to climb above the $0.840 resistance level, it could start another decline. Immediate support on the downside is near the $0.80 level.

The next major support is near the $0.780 level. A downside break below the $0.780 level could open the doors for a test of $0.7620. The next major support is near the $0.750 level where the bulls might emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.

Major Support Levels – $0.8000 and $0.7800.

Major Resistance Levels – $0.8200 and $0.8400.