Cardano (ADA) Teeters on the Edge: Will Key Support Hold or Collapse?

Cardano''s ADA is dancing on a knife''s edge—again. The ''Ethereum killer'' now faces its own execution as critical support levels tremble under selling pressure. Here''s why traders are sweating.

The make-or-break moment

ADA''s chart paints an ominous picture. That crucial support floor everyone''s been watching? It''s groaning louder than a crypto bro explaining why his altcoin portfolio ''just needs more time.''

Market mechanics at play

When networks congest and prices drop, crypto projects love to blame ''market conditions''—as if their tokenomics weren''t designed by a hamster wheel. Cardano''s no exception, but this technical test could separate HODLers from bagholders.

One thing''s certain: in crypto, the line between ''strategic accumulation zone'' and ''controlled demolition'' depends entirely on which side of the trade you''re on. Place your bets—the house always wins.

Cardano Price Dips Further

In the past few days, Cardano saw a fresh decline below the $0.720, unlike Bitcoin and Ethereum. ADA even declined below the $0.70 level to enter a bearish zone.

The bears even pushed the price below the $0.680 level. A low was formed at $0.6134 and the price recently corrected some losses. There was a MOVE above the $0.620 and $0.6350 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.7311 swing high to the $0.6134 low.

However, the bears remained active near $0.6560. Cardano price is now trading above $0.620 and the 100-hourly simple moving average. Besides, there is a key bullish trend line forming with support at $0.630 on the hourly chart of the ADA/USD pair.

On the upside, the price might face resistance NEAR the $0.650 zone. The first resistance is near $0.6560. The next key resistance might be $0.6720. It is close to the 50% Fib retracement level of the downward move from the $0.7311 swing high to the $0.6134 low.

If there is a close above the $0.6720 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.70 region. Any more gains might call for a move toward $0.7350 in the near term.

Another Drop In ADA?

If Cardano’s price fails to climb above the $0.6720 resistance level, it could start another decline. Immediate support on the downside is near the $0.630 level.

The next major support is near the $0.620 level. A downside break below the $0.620 level could open the doors for a test of $0.60. The next major support is near the $0.5650 level where the bulls might emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.

Major Support Levels – $0.630 and $0.620.

Major Resistance Levels – $0.6560 and $0.6720.