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) has led to increased volatility and selling pressure.
- The price is currently trading below its 50-day and 100-day EMAs, indicating sellers have the upper hand.
- A potential stabilization and retest of the $0.70–$0.75 range could occur if buyers defend the $0.6671 support zone.
The steep correction has flipped ADA’s market structure to bearish.
Author's summary: Cardano's price drops 20% amidst bearish sentiment.
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