Cardano Price Analysis
Cardano's price has dropped by 20% and is currently testing the $0.66 support level, with sellers dominating the market and funding rates turning negative.
A bearish shift in market sentiment and a breakdown below key Exponential Moving Averages (EMAs) has led to increased volatility and selling pressure.
Key Support Zone
If buyers defend the $0.6671 support zone, ADA could potentially stabilize and retest the $0.70–$0.75 range.
Market Structure
Cardano's market structure has flipped to bearish, with the token trading below both its 50-day and 100-day EMAs, indicating that sellers have the upper hand.
The recent breakout below key EMAs signals a short-term trend reversal after weeks of range-bound consolidation and a steady bullish run.
Author's summary: Cardano's price drop sparks bearish sentiment.