Cardano (ADA) Faces Bearish Pressure as Price Tests Key Support Levels

Cardano (ADA) is showing bearish momentum as most cryptocurrencies, according to CoinStats, are seeing red. ADA’s price has declined by 2% over the past 24 hours, raising concerns among traders about a deeper pullback.

On the hourly chart, ADA briefly bounced off the $0.7460 support level but failed to secure upward momentum. If bulls don’t regain control soon, the asset risks breaching this support. A breakdown could send ADA further down to the $0.74 range in the short term.

Analyzing the larger time frame, ADA remains distant from significant resistance or support zones. The interim support at $0.74 plays a crucial role in determining ADA’s next move. A confirmed drop below this level may lead to a test of the $0.7171 mark before the end of the week, reflecting growing market pessimism.

Midterm technical indicators suggest continued dominance by bears. If ADA fails to hold the $0.7171 level, the next major support lies near $0.65—a level last seen during previous market consolidations.

As market volatility persists, traders are urged to monitor price action closely, especially near these critical levels. With ADA showing signs of weakness, any further loss of support could signal a broader correction in altcoins. Investors should remain cautious and stay updated with real-time data to navigate potential price swings.