Cardano Price Faces Continued Pressure as Death Cross Confirms Bearish Outlook

Cardano (ADA) continues to struggle after a steep correction from recent highs, with the cryptocurrency slipping below crucial support zones and signaling sustained bearish momentum. The recent death cross—confirmed on November 3, when the 50-day moving average crossed beneath the 200-day moving average—has intensified market caution, marking a potential turning point in ADA’s short-term trend.

Currently trading around $0.548, ADA remains well below both key moving averages, underscoring an extended downtrend. Historically, such a crossover indicates a prolonged selling phase, and Cardano’s failure to reclaim the $0.60 resistance further supports this bearish narrative. Price structure analysis also shows consistent lower highs and lower lows, hinting at the likelihood of further retracements toward the $0.50 psychological level if selling pressure continues.

On the 4-hour chart, ADA recently broke below a bearish pennant pattern after losing the $0.555 support zone. This breakdown confirms renewed downward momentum, with immediate risk of testing the $0.500 floor, a level that has served as critical demand since early November. The Directional Movement Index (DMI) reinforces this sentiment, showing -DI at 21 and +DI at 18, reflecting clear bearish dominance. However, the Average Directional Index (ADX) reading of 14 suggests weak trend strength, implying that while bears are in control, the downward move may lose momentum if trading volume fails to rise.

Meanwhile, liquidation data reveals intensified bearish control, with over $2 million in long positions liquidated in 24 hours—mostly from Binance and Bybit—compared to just $180K in short liquidations. This imbalance highlights the pressure on bullish traders and suggests potential for deeper declines before any relief rally. Unless ADA reclaims $0.60, market sentiment is expected to remain bearish, with a possible retest of $0.50 before recovery attempts emerge.