Cardano remains one of the top ten cryptocurrencies, but its price has been under pressure recently. The broader crypto market has been volatile, and this has affected ADA along with major coins like Bitcoin and Ethereum.
Bitcoin is hovering around $87,850 after a recent pullback, while Ethereum struggles below $2,890. Analysts warn that if BTC drops below $87,000 or ETH under $2,600, Cardano could face further declines. Meanwhile, gold has hit a new record high, which has also weighed on crypto sentiment.
Cardano recently jumped amid bullish sentiment but has fallen back to test its $0.33 support level. The token is currently trading at $0.34, after marking a low of $0.3384. Bulls are trying to defend this zone, but confidence seems to be fading. The price is now trading within a narrow range of $0.33 to $0.36.
Open interest is declining, and continued selling pressure could push Cardano down toward $0.27 or even $0.20. Funding rates show indecision among leveraged traders, while the risk-off environment and gold’s rally are keeping bearish momentum alive.
On the positive side, if Bitcoin gains fresh momentum above $90,000, Cardano could follow, potentially rising above $0.36. In a broader uptrend, ADA might climb to $0.50–$0.75, especially if the ecosystem sees upgrades or renewed institutional investment.
Technical indicators are cautious. The daily Relative Strength Index sits around 40, hinting that the token could become oversold and see a bounce, but it also signals ongoing downward pressure. The MACD shows weakening strength, although a reversal could occur if buying pressure picks up. Divergences suggest that sellers might be tiring, but a confirmed breakdown would likely push ADA toward $0.25–$0.28.
The $0.30 -$0.33 zone is now key. Buyers need to defend it to prevent further losses, while failure could trigger deeper declines. Cardano’s short-term price direction is closely tied to the performance of Bitcoin, Ethereum, and the broader risk-asset market.
