Cardano Slides Toward $0.30 as ADA Holds $0.35 Support
Cardano (ADA) has weakened after breaking short-term support levels, trading around $0.35 and consolidating just above $0.347–$0.35. Price sits below key short-term moving averages (7/21/30-day SMAs) and on the 4-hour chart is under downward-sloping averages; momentum indicators (MACD negative, RSI mid-30s) point to bearish pressure and possible oversold conditions. Recent stop-loss cascades accelerated the sell-off after the pivot broke. Immediate downside risk targets the 2025 low near $0.32 and, if bearish momentum persists, a deeper move toward $0.30. To regain upside momentum, buyers need to reclaim moving averages and resistances — near-term resistance includes the 23.6% Fibonacci at ~$0.45. Doji candlesticks have limited directional conviction recently. This is market analysis, not investment advice.
Bearish
Both summaries describe renewed downside pressure on ADA: price has broken short-term supports, sits below multiple moving averages, and momentum indicators are negative or weak (MACD negative, RSI in the mid-30s). The recent sell-off was amplified by stop-loss cascades after a pivot level failed, increasing the probability of further intraday and short-term declines toward the $0.32–$0.30 area. Doji candles and oversold RSI leave open the possibility of short-lived bounces, but structurally the market requires reclaiming the 7/21/30-day SMAs and the 23.6% Fibonacci (~$0.45) to shift momentum. For traders: short-term bias is bearish — consider tightened stops, avoid aggressive long entries until clear reclaim of moving averages, and watch $0.347 daily close for breakdown confirmation or rejection. Longer-term impact depends on whether buyers defend the $0.30–$0.32 zone; failure could extend losses, while defended support and reclaim of moving averages would be needed to resume bullish case.