Key Points
- Cardano’s ADA is the worst-performing top-10 cryptocurrency this week, down around 5%.
- If the bearish trend continues, ADA could retest the low near $0.5111.
ADA Lags Despite Market Recovery
ADA, the native token of the Cardano blockchain, has underperformed among the top ten cryptocurrencies by market capitalization so far this week. The token has lost nearly 6% of its value over the past seven days and appears likely to decline further in the coming hours or days.
At the time of writing, ADA trades at $0.5662, down about 2% over the past 24 hours. While Bitcoin, Ether, and other major cryptocurrencies staged a recovery after last weekend’s sell-off, ADA’s price action remains bearish.
Since Monday, the broader crypto market has added almost $200 billion in market value, with Bitcoin reaching the $108k level. Despite the wider market gains, ADA has yet to mount a meaningful rebound and continues to exhibit weakness.
Bearish Bias Intact — ADA Could Revisit $0.5111
The ADA/USD 4-hour chart shows a clear bearish bias across short and intermediate timeframes, suggesting sellers currently control price action. Technical indicators also support a negative outlook.
The MACD has dropped into negative territory and the RSI sits near 44, highlighting sustained selling pressure. Both signals point to a continued downside risk for ADA in the short term.
Given the current selling momentum on the ADA/USD pair, ADA is likely to test the $0.5111 low soon. If bearish pressure persists, ADA could fall to the $0.4590 support level — a price not seen since November 2024.
On the other hand, broader market bullishness could influence ADA’s performance. If buying strength returns across the crypto market, ADA may attempt to reclaim last week’s high near $0.6580. A significant rebound would be required for ADA to challenge the monthly high around $0.75.