Cardano Price Analysis
Cardano's price has dropped by 20% and is testing the $0.66 support level, with sellers dominating and funding rates turning negative.
A bearish shift in market sentiment and a breakdown below key Exponential Moving Averages (EMAs) have led to increased volatility and selling pressure.
If buyers defend the $0.6671 support zone, ADA could potentially stabilize and retest the $0.70–$0.75 range.
Cardano (ADA) has taken a sharp hit, with its price dropping by more than 20% in the past 24 hours, as bearish sentiment sweeps across the altcoin market.
The steep correction has flipped ADA’s market structure to bearish, with the token now trading below both its 50-day and 100-day EMAs.
The recent breakout below key EMAs signals a short-term trend reversal after weeks of range-bound consolidation and a steady bullish run.
Author's summary: Cardano's price drop may dictate its next move.