After a series of valiant but ultimately futile attempts to maintain a price above $1, Cardano (ADA) has retreated to the comforting embrace of $0.80. What could possibly go wrong next? 🤔💸
Key Support levels: $0.77, $0.70 – because nothing says “hope” like a 70-cent drop.
Key Resistance levels: $0.90, $1 – the holy grail of crypto, now just a distant memory.
1. Sellers: The Unseen Villains Behind ADA’s Descent
Cardano’s native token tried to hold above the support at $0.90 in late August, but sellers were too strong and the price turned this level into a resistance again. At the time of this post, ADA found good support just above $0.77, and buyers could return here to push it into a relief rally. Or maybe it’s just the universe playing a cruel joke. 🧠📉
2. Lower Highs: A Symphony of Weakness
If we zoom out on ADA’s price action, we can see that since the end of 2024, the asset has been making lower highs. This is a sign of weakness, even if the price always found strong support above $0.50. It’s like watching a toddler try to build a sandcastle while the tide relentlessly erases their efforts. 🏖️🌊
The attempts to reclaim a price tag of $1 were rejected every time, and until buyers secure that level, it’s unlikely for ADA to rally higher. Or maybe it’s just waiting for a cosmic event. 🌌
3. Volume Dries Up: The Silent Scream of Crypto
After the spike in buy volume in mid-August, sellers returned and kept the pressure up, with only six daily candles closing in green since then. While the downtrend remains strong, sellers appear to be losing interest since the volume profile is falling. This could open an opportunity for buyers to return… or it could be a trap. 🕵️♂️💸
Read More
- You Won’t Believe Polygon’s Wild Stablecoin Frenzy—But POL Has Other Plans
- FLR PREDICTION. FLR cryptocurrency
- Brent Oil Forecast
- USD HKD PREDICTION
- GBP AED PREDICTION
- Will Crypto Soar as Fed Cuts Rates? 🚀💰
- EUR AED PREDICTION
- SharpLink’s Bold Ethereum Move: $3.6B and Linea’s Layer-2 Magic
- EUR PLN PREDICTION
- KCS PREDICTION. KCS cryptocurrency
2025-09-03 08:05