Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Cardano (ADA) Faces Further Decline, $0.3389 Support Under Threat

Share This Post

Cardano (ADA) is currently experiencing a downward trend, with its price approaching the crucial support level of $0.3389. The cryptocurrency market has been under significant bearish pressure, and ADA is no exception. 

This decline is fueled by a mix of macroeconomic factors, market sentiment, and technical indicators pointing to continued weakness. As Cardano nears this critical support level, investors and traders are closely monitoring its performance to determine if it can hold the line or if further declines are imminent. The $0.3389 level is now a key focus for the market, potentially shaping ADA’s short-term future.

With the help of technical indicators, this analysis focuses on analyzing Cardano’s current price action and its impact on the asset’s future focusing on the 4-hour and the 1-day timeframe.

Presently, the market capitalization of Cardano is over $13 billion, with a trading volume of over $252 million. The cryptocurrency price is currently down by 2.94%, trading at roughly $0.3786. Despite a 2.91% decrease in market capitalization, there has been a 10.38% increase in trading volume in the past day.

Review Of Recent Market Performance Of Cardano

Currently, the price of ÀDA is actively bearish trading below the 100-day Simple Moving Average (SMA) in the 4-hour timeframe. Due to this Cardano is beginning to decline towards the $0.3389 support after a failed upward attempt. With this current price action, it can be suggested that ADA’s bearish trend may likely extend.

Cardano

Also, the Relative Strength Index (RSI) confirms that the price of ADA may extend its decline toward the $0.3389 support zone as the signal line of the indicator has dropped below 50% and is heading towards the oversold zone.

Meanwhile, on the 1-day chart, ADA’s price is trading below the 100-day SMA dropping towards the $0.3389 support level with strong bearish momentum after short-term upward recovering.

Cardano

Additionally, with the formation of the 1-day RSI, it can be suggested that Cardano poses more of a threat to extending its decline as the signal line of the indicator is actively trending below 50% attempting to make another drop towards the oversold zone.

Strategies For Navigating ADA’s Decline

An analysis of potential key levels to look out for reveals that ADA’s price may continue to move downward toward the $0.3389 support level. Should the crypto asset break below this level, it may move lower to test the $0.2388 support level and probably move on to test other lower levels if the price breaches this level.

However, if there is a rejection at the $0.3389 support level, Cardano may start moving upward toward the $0.5229 resistance level. If this level is breached, the crypto asset may experience more price growth toward the $0.6822 resistance level and possibly other levels above.

Cardano

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

France central bank governor says Trump is “sowing the seeds of future upheavals” by supporting crypto

Francois Villeroy de Galhau, the governor of Banque de France and the European Central Bank Governing Council’s member, believes US president Donald Trump is making a huge mistake by supporting

640,000 Chainlink (LINK) Withdrawn From Exchanges In 24 Hours – Bullish Accumulation?

Chainlink (LINK) is currently trading below crucial resistance levels, which could trigger a strong rally if bulls manage to reclaim them However, volatility and uncertainty have dominated the market

To Sell or Not to Sell: Redditors Debate Bitcoin’s Million-Dollar Moment

A Reddit thread exploring whether bitcoin holders would sell at $1 million reveals a divided yet pragmatic community weighing financial goals, inflation risks, and long-term faith in the leading

Bitcoin Faces Short-Term Distribution – Analyst Explains Why Bull Market Remains Intact

After weeks of intense selling pressure, Bitcoin (BTC) has entered a consolidation phase, trading below the $85K mark and above $80K Bulls now face a critical test, as they must push BTC above $90K

Bitcoin Spot ETF Exodus Continues: $900 Million Outflows Extend Losing Streak

Following the last trading window, the US Bitcoin Spot ETFs have recorded another week of overwhelming net outflows with investors pulling over $900 million from the market This development marks the

US Spot Bitcoin ETFs Lost 55,348 BTC Worth $4.58B in Just 35 Days

According to the latest data, US spot bitcoin exchange-traded funds (ETFs) have trimmed their holdings by 476% since Feb 6, 2025 From Jan 1 to Feb 6, these funds added roughly 56,80286 BTC to their