- Cardano (ADA) must hold $0.65–$0.80 to avoid deeper losses.
- A break below $0.58 could send prices tumbling to $0.40.
- Bullish signals are emerging, but ADA needs to reclaim $0.75 to reverse the trend.
The leading altcoin, Cardano (ADA) has been on a rough ride, struggling to hold its ground as traders eye a possible 50% plunge. While its fundamentals remain strong, the price tells a different story.
ADA is battling key resistance, and if it loses its critical support level at $0.70- $0.72 could trigger a sharp drop. Currently, Cardano is trading around $0.7263, down 0.79% in 24 hours. Earlier, ADA plunged 15.53% in a day, dropping from $0.7738 to $0.6536 before rebounding.
Analyst Ali Martinez warns that if ADA slips below the $0.80–$0.60 zone, the sell-off could accelerate. He also revealed via a recent tweet on X (formerly Twitter) the bullish side of the coin for Cardano. If ADA could survive the $0.75-$0.80, a potential $2 target is the next run for the token.
The RSI sits at 41.98, showing weak momentum, while whale accumulation is drying up, a worrying sign. Institutional interest seems to be fading, leaving retail traders to battle the downtrend alone.
Source: SosoValue
Cardano Struggles Below $0.75, Facing a Critical Turning Point
Technical charts paint a grim picture. ADA remains stuck in a descending trend, repeatedly failing to break past $0.75 and $1.00. If sellers push it below $0.58, the next logical stop is $0.40—a steep 50% drop from recent highs.
ADA needs to hold above $0.7100. Lose that, the door swings open for $0.6600 and lower. On-chain data backs up the bearish case. A 94% liquidation imbalance suggests sellers are in control, with few buyers stepping in to slow the decline.
Despite its current struggles, there are survival chances that Cardano’s smart contract upgrades and DeFi expansion could fuel a turnaround. Also, the MACD recently flashed a golden cross, hinting at a shift in momentum.
ADA’s CMF at -0.03 signals weak buying pressureCardano still has a potential shot at reclaiming $0.7500, if bulls and whales decide to purchase and hold longer. If ADA can break past $0.75 and hold $0.80, momentum could flip bullish, sending prices toward $0.90–$1.00.
However, if Cardano fails to break above $0.7500 another leg down is likely. Cardano is presently at a turning point. A drop below $0.65 and $0.58 could trigger a cascade toward $0.40, but a strong bounce above $0.75 might shift sentiment.
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