Cardanos ada
The token struggles to maintain momentum upwards and slides to $ 0.5965 despite signs of support for $ 0.60 psychological threshold, according to Coindesk Research’s technical analysis model.
Previous price action suggested a bullish reversing pattern, including a potential triple bottom formation, but the lack of having $ 0.60 highlights ongoing weakness on the market.
What stands out is the increase in the 24-hour trading volume, which rose 30% above the 7-day sliding average sign of increased market engagement. Although short-term price action remains Bearish, the increase in activity combined with a reduction in exchange net flows could indicate that ADA holders are changing against long-term storage.
With over 2,000 decentralized applications and 10.8 million native tokens implemented on the Cardano network, some dealers place a potential rebound if the wider market stabilizes.
Technical analysis highlights
- ADA traded between $ 0.589 and $ 0.612 over the 24-hour period, a 3.9% range.
- After testing of $ 0.590, the purchase pressure pushed the price near $ 0.609, followed by consolidation between $ 0.597- $ 0.603.
- Final Times light closed at $ 0.5965, confirming a break below $ 0.60 without immediate rejection.
- Upentend structure of higher low was disturbed, which weakens Bullish Momentum.
- An increase of 30% in 24-hour trading volume suggests increased participation, although short-term mood remains fragile.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
