- Cardano must reclaim $0.70 soon as ongoing bearish pressure and weak volume threaten a deeper decline toward the $0.58–$0.60 range.
- Mixed RSI and Stochastic signals reflect indecisive momentum while major moving averages indicate continued downside risk for ADA.
- Consolidation phases and fading volume suggest Cardano faces resistance ahead and lacks bullish catalysts to reverse trend.
$ADA trades sideways, with price action reflecting growing bearish sentiment. According to analyst Sssebi, Cardano must reclaim the $0.70 level to avoid retesting the $0.58–$0.60 range. Currently, the asset trades at $0.636, a 0.93% drop. Technical indicators and volume suggest that without strong bullish catalysts, a further dip remains likely. The ongoing geopolitical tensions and lack of market-moving news have intensified downside risks.
Downtrend Confirmed by Moving Averages and Volume Signals
Cardano’s simple and exponential moving averages reinforce the bearish structure. The SMA 5 and SMA 50 remain tightly aligned, indicating weak short-term momentum. Additionally, the EMA sits at $0.69577—well above current prices—highlighting sustained selling pressure. The price action shows a consistent decline from a May peak of $0.86. A visible green trendline illustrates this descent, confirming a bearish channel.
Volume activity also reveals clues. Trading volume has shown inconsistent spikes, usually during major price swings. Notably, volume has decreased in recent sessions, suggesting that market uncertainty and waning interest are to blame. A few bullish candles don’t change the fact that bears are still in charge. The majority of trading sessions are dominated by red candlesticks, while green ones are unable to breach important resistance zones.
Momentum Indicators Reveal Mixed Signals
According to TradingView data, the Relative Strength Index (RSI) has varied over time but is still in neutral area. The current indicators don’t point to an overbought or oversold situation. Additionally, a yellow RSI trendline confirms momentum swings without obvious breakout signals by following a same trajectory.
Source: TradingView
The Stochastic RSI shows readings at 81.32 and 53.41, reflecting mixed momentum. These levels suggest the asset is near overbought conditions, possibly signaling a short-term pullback. Consequently, traders should monitor for any shift below 50 as a bearish sign.
Consolidation Zones and Market Structure Shape Expectations
Cardano’s price structure features multiple consolidation phases between April and June. Peaks and valleys define a choppy market, creating distinct trading zones. These zones offer support around $0.60 and resistance near $0.70.
Any failure to reclaim $0.70 may prompt further downside tests. Moreover, the moving average line above the current price signals potential overhead resistance. This setup suggests any bullish reversal must overcome multiple technical barriers.
