Cardano Clings to Critical Support as ADA Misappropriation Allegations Swirl—Will the Audit Trigger a Sell-Off?

ADA defies bearish pressure, holding key price levels despite brewing controversy. The blockchain’s integrity faces scrutiny as claims of fund mismanagement surface—just as auditors prepare to release their findings.

Market watchers brace for volatility: Will the audit vindicate Cardano’s ’academic rigor’ reputation, or expose cracks in its foundation? Meanwhile, traders eye the $0.45 support like hawks—because nothing says ’decentralized finance’ like sweating over a single price point.

Pro tip: If the report drops during Asian trading hours, expect the usual ’whale games’—Wall Street’s pump-and-dump tactics look amateurish compared to crypto’s 24/7 casino.

Looking at moving averages, the 10-day and 20-day EMAs and SMAs are currently acting as resistance, suggesting short-term selling pressure. Longer-term support is offered by the 30-, 50-, 100-, and 200-day moving averages, which are still trending upward.

The key to stopping additional losses may lie in ADA’s ability to maintain its position above its 100-day EMA, which is at $0.73. ADA may move toward $0.78 or higher if bulls retake the 10-day EMA close to $0.76. 

If current support levels are not maintained, the price may drop below $0.72 and possibly reach $0.70 or even $0.68. Both sides are currently waiting for a catalyst, so the outlook is neutral.