Cardano (ADA) Faces Death Cross as Price Dips, Bullish Sentiment Remains

Cardano (ADA) has dropped 2.97% in the past 24 hours, slipping from a high of $0.6045 to a low of $0.5630, before recovering slightly to trade at $0.5847, according to CoinMarketCap. The decline comes amid persistent selling pressure as the asset continues to face technical challenges, including a prolonged death cross pattern.

The death cross—indicated by the 9-day moving average staying well below the 21-day moving average—signals continued bearish sentiment. To reverse this setup and trigger a bullish golden cross, ADA must break above the key resistance at $0.62 and hold that level. Until then, bearish momentum may persist.

Trading volume has surged by 65.51% in the last 24 hours, reaching $754.16 million. This rise in activity could support short-term price recovery, but if volume declines, ADA may retest support near $0.56. Despite the ongoing correction, overall market sentiment remains optimistic. A recent poll by TheBlockchainMedia shows 56% of respondents believe Cardano will bounce back, outpacing support for other assets like XRP, which only garnered 20%.

Cardano’s fundamentals continue to strengthen, with the network recently surpassing 110 million total transactions—a sign of growing adoption. While ADA faces near-term technical hurdles, increased user confidence and blockchain activity suggest potential for a rebound if key resistance levels are broken.

With volatility high and technical patterns still favoring bears, traders are watching closely for signs of reversal. For now, Cardano remains a key asset to monitor in the altcoin market as investor interest builds despite market headwinds.