Cardano’s Freefall: Is There Any Hope Left for ADA?

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Alas, Cardano’s price has decided to take a nosedive, plummeting beneath the once sacred $0.70 zone. Now, it’s wallowing in a pit of despair, seemingly contemplating another plunge below the $0.650 abyss. What a surprise!

  • ADA‘s price broke the $0.720 and $0.700 barriers like a champion — but in the wrong direction.
  • It now rests below the $0.70 mark, out of reach of the 100-hourly simple moving average. Where’s the hope? Certainly not here.
  • That bullish trend line with support at $0.6840? Yeah, it’s history now, crushed under the weight of reality (on the hourly chart of ADA/USD, courtesy of Kraken).
  • If the price dares to dip below the $0.650 zone, it could be curtains. Another beautiful decline is on the horizon.

Cardano’s Price Faces a Harrowing Descent

In recent days, Cardano has joined the ranks of the fallen, sinking beneath $0.750, unlike Bitcoin and Ethereum that at least pretend to stay afloat. ADA has now entered the dark underworld of the $0.70 zone, where bears roam freely.

And let’s not forget that bullish trend line that used to offer hope — it’s been obliterated. The price touched a low of $0.6626 and now, like a beaten dog, is consolidating its losses. How… touching.

At this point, ADA is lingering below $0.70, far from the 100-hourly moving average that might have once given it a sense of direction. Any rise now faces resistance at $0.6720. And don’t get too excited; it’s only a Fib retracement level. The bulls are not in sight.

If ADA manages to muster a small rally, it’ll face resistance at $0.6825, which is 50% of the last failed attempt at glory. The next resistance at $0.6920? Good luck with that.

Should ADA miraculously close above $0.6920, we might see a short-lived rally to the $0.7350 zone. Any further gains could take it back to $0.750, but let’s be real: that’s looking like a distant dream.

Another Plunge for ADA? Sounds Likely

If ADA can’t push past the $0.6825 resistance, another decline is inevitable. The first stop on this grim journey is $0.6625. Get ready, because that next leg down could be swift.

Brace yourself, because $0.650 is the next major support, and a breakdown below that could send ADA crashing toward $0.620. And if you’re still holding your breath, the next stop could be $0.60. Don’t worry, the bulls will “emerge” eventually, probably as an afterthought.

Technical Indicators

Hourly MACD: The MACD for ADA/USD is firmly in the bearish zone, showing no signs of mercy.

Hourly RSI (Relative Strength Index): RSI for ADA/USD is well below 50. Someone get this thing a therapist.

Major Support Levels: $0.650 and $0.620, if you can stomach it.

Major Resistance Levels: $0.6825 and $0.700. Sure, why not dream?

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2025-06-05 07:00