- Cardano (ADA) is struggling to hold the critical $0.66 support level as bearish signals grow stronger.
- A breakdown could send prices toward $0.50, but a bounce could revive hopes for a move back to $0.76.
Cardano (ADA), one of the top altcoins in the crypto market, is under intense pressure as it teeters near a critical support level. Currently trading around $0.71, ADA is struggling to hold onto the $0.66 floor—a level that could decide its short-term future. With rising bearish momentum and weakening investor confidence, ADA’s resilience is about to be tested like never before.
Bearish Indicators Raise Red Flags
The Elder-Ray Index, a key tool used to assess the tug-of-war between buyers and sellers, is flashing warning signs. Buyer strength is visibly weakening, indicating that sellers are slowly gaining the upper hand. According to DeFi researcher THEDEFILINK, this kind of bearish divergence often appears just before a trend reversal.
To make matters worse, the Chaikin Money Flow (CMF) indicator remains in negative territory at -0.09, showing sustained capital outflows from ADA. This suggests that investors are pulling money out rather than buying in, reinforcing the bearish outlook.
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The $0.66 Level Is Crucial
All eyes are on the $0.66 support line. If ADA breaks below this level, analysts warn that it could quickly slide to its yearly low near $0.50. Such a move would represent a significant psychological and technical blow to ADA holders.
However, not all hope is lost. If bulls can step in and defend the support zone, a rebound toward $0.76 is still within reach. For now, ADA remains in a tight range, with the broader crypto market’s sideways trend offering little relief.
Cardano is facing a pivotal moment. With key indicators turning bearish and selling pressure mounting, the $0.66 level could determine whether ADA stages a recovery or tumbles further. Traders and investors alike should keep a close eye—because whichever way it breaks, big moves could follow.