Cardano (ADA) Faces Bearish Pressure Amid Market Downturn

Cardano (ADA) has dropped nearly 4% over the past 24 hours, mirroring the broader crypto market pullback, according to CoinMarketCap. As most major cryptocurrencies slip into the red zone, ADA is showing signs of further weakness.

On the hourly chart, Cardano’s price is approaching key support at $0.7353. If bearish momentum continues, traders may see a retest of the $0.73 level within the next 24 hours. The short-term trend indicates increasing pressure, with buyers struggling to regain control.

Zooming out to the daily timeframe, ADA is facing similar headwinds. A potential breakdown below the $0.7445 level could open the door to further losses, possibly pushing the price down toward the $0.70–$0.72 range by week’s end. Market sentiment remains cautious as bulls fail to capitalize on previous upward momentum.

From a midterm perspective, ADA's recent rejection near the $0.8466 resistance marked a false breakout, reinforcing a bearish outlook. Unless buyers step in decisively, the $0.70 zone could act as the next major test in the coming week.

At the time of writing, Cardano is trading at $0.7463. The next few sessions will be crucial in determining whether ADA can stabilize above support or extend its decline. Investors should monitor volume levels and key resistance points to assess potential trend reversals.

With ADA under pressure and broader market sentiment leaning bearish, technical indicators suggest a cautious approach. Traders are advised to watch for confirmed breakouts or breakdowns to identify clearer entry points.