News View Non-AMP

Cardano (ADA) Faces a Tough Test – Will It Break Down or Bounce Back?

Published by
Mustafa Mulla

Cardano (ADA) is facing a big test as market conditions grow tense. While the entire crypto market is slowing down and moving sideways, ADA is now struggling to hold its ground. The token is now trading just above a key support level of $0.66, and if it fails to hold, a sharper drop around $0.50 could be next.

So, what’s going on with ADA?

Bears Are Gaining Strength

According to the THEDEFILINK, a core DeFi Researcher, one of the biggest warning signs is coming from the Elder-Ray Index, a tool that tracks the battle between buyers and sellers. Right now, the buyers are backing off. 

Each day, the signal weakens, which suggests that sellers are slowly taking control. This kind of setup often shows up before a price reversal.

Another red flag is the Chaikin Money Flow (CMF), which tracks how money moves in and out of an asset. For ADA, the CMF is negative, sitting at -0.09, and it has stayed there all week. 

This tells us that more money is leaving ADA than coming in, showing that sellers are in charge for now.

$0.66 – A Critical Level to Watch

As of now, ADA is hanging around $0.71, just above the $0.66 support level. Meanwhile, analysts warn that ADA could revisit its yearly low of $0.50 if it falls below the support level. 

On the flip side, if bulls manage to defend this zone, there’s still a chance for a rebound up to $0.76. But time is running out.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Russia to launch Its Own Ruble-backed Stablecoin, RT-Pay Payment Platform

Russia’s state-owned technology giant Rostec is stepping into the digital finance space with big plans.…

July 4, 2025

Pi Network Price Faces Bearish Pressure Despite AI-Fueled Optimism

The price of PI Network has shown remarkable resilience, hovering around the $0.477 mark in…

July 4, 2025

Binance Offers Zero-Interest Loans, Hires Ex-Central Bank Chief, How To Qualify!

Binance has just rolled out a new loan service aimed at helping institutional clients access…

July 4, 2025

Nano Labs Invests $50M in BNB, Eyes $1 Billion in Treasury

Nano Labs, a leading Web 3.0 infrastructure provider in China, recently made a bold move…

July 4, 2025

Polygon (MATIC) Price Prediction 2025, 2026 – 2030: Will MATIC Price Surge to $1?

Story Highlights The live price of the Polygon coin is . The MATIC price could…

July 4, 2025

Did SEC’s Closed-Door Meeting Mark the End of XRP Lawsuit? Judge Torres Steps Aside

Ripple vs. SEC case saw renewed speculations after the SEC’s closed-door meeting yesterday. Posts on…

July 4, 2025