Amid the ongoing Trump tariff war against China, the Wall Street and Cryptocurrency market has been significantly affected over the past few days. With the tariff war intensifying, the world market has lost over $5.6 trillion in valuation, making it one of the worst market corrections in over 16 years.
While top crypto tokens struggle to keep up with their important support levels, the Cardano ADA price has crashed by over 17% in the last 30 days, making it one of the worst-performing blue-chip crypto projects. Moreover, this altcoin has experienced a Death Cross, indicating a strong bearish outlook for the altcoin.
ADA Coin Price Records Increased Bearish Action!
By constantly trading under a negative influence, the Cardano token has lost 5.76% in 24 hours with a trading volume of $1.347 billion.
Moreover, it has wiped out 16.27% in the last 7 days and is down by 17.86% over the past month. Moreover, with a Year-to-Date (YTD) return of -33.68%, its market dominance has dropped to 0.8117% with a market cap of $20.194 billion.
The Relative Strength Index (RSI) continues trading around the oversold range in the daily time frame. Furthermore, its average trendline acts as a strong resistance to the ADA price chart, highlighting a strong bearish sentiment for the altcoin in the crypto market.
On the other hand, the EMA 50/200-day shows a Death Cross in the 1D time frame. This suggests that the altcoin may continue losing significant value from its portfolio this week. This further alarms a high possibility of a major selloff during the upcoming days.
Will Cardano Price Go Up?
If the bulls regain momentum, the ADA crypto token could display a bullish reversal by retesting its immediate resistance zone of $0.60. Furthermore, if the positive sentiment intensifies at that point, this could result in the price of this altcoin preparing to test its upper price target of $0.80 this month.
On the contrary, if the bears outrun the bulls, in that case, the price of ADA price may retest its support level of $0.50. If the bulls fail to regain momentum at that point, this could pull the price of the CardanoADA token toward its crucial support zone of $0.46.
Also Read: Hoskinson to Demo Bitcoin-Cardano Integration at 2025 Conference
