Cardano (ADA) continued to face downward pressure in today’s session, slipping to $0.5978, a marginal 0.17% decline. The intraday drop comes as short-term sellers maintain control, pushing ADA closer to the lower boundary of a critical support zone between $0.588 and $0.615.
Recent price action shows ADA trading below its 20- and 50-period exponential moving averages, which now form a firm resistance cluster. The narrowing range of volatility implies an accumulation of power, and the token is close to a significant volume profile level. Bulls do not make any attempt to put pressure back above the rejection zone at $0.69, so the market is still leaning towards bears.
The price is still contained in a declining channel on the 4-hour and daily charts. ADA has repeatedly tried to crack higher than dynamic resistance levels, such as the 200 EMA, which is currently forming around about $0.6809. This trend is supported by weak momentum indicators, with MACD having no momentum and the RSI being in the awkward zone.
Source: Tradingview
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Technical Weakness Deepens as Volume and Trend Indicators Align
The Supertrend indicator flipped red after ADA lost key structural levels above $0.64. A confirmed break of the structure followed a failed attempt to hold above $0.66, creating new resistance points that now cap any recovery attempts. Current structure points to a weak low forming around $0.5882.
Directional Movement Index is a clear indicator of bullish attitude towards buyers. The negative directional index is down at 40.51, whereas the positive index is relatively mild at 11.32, and with a trend strength of 26.91, it favors additional downside risk.
Source: Tradingview
The volume indicators suggest that buying pressure is declining, as the Chaikin Oscillator stays in the negative range, and the Awesome Oscillator suggests a bearish trend. The Parabolic SAR is above the price, which means sellers are still in control. The Bollinger Bands are tightening, and the price keeps slogging along the bottom Bollinger Band, which has a low trend developing.
Source: Tradingview
Additionally, the resistance level of $0.6156 strengthens the bearish structure on the volume profile, while the demand zone between $0.588 and $0.602 is becoming a critical area for short-term buyer defense. A drop below this area may take ADA to around 0.55, with lower support levels around 0.50.
The Ichimoku Cloud chart contributes to the bearish mood where ADA has been trading below the Kumo cloud. The conversion line and the baseline are horizontal and do not reveal any reversal in the trend on the lower timeframes.
Source: Tradingview
Cardano’s short-term outlook remains fragile as sellers dominate price action near a key support zone. Without a decisive close above the $0.615 resistance, ADA faces an increasing risk of further losses.
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