coinpedia 2025-06-19 07:42:45

Why Is Cardano (ADA) Price Dropping Today? Here’s What You Need to Know!

The post Why Is Cardano (ADA) Price Dropping Today? Here’s What You Need to Know! appeared first on Coinpedia Fintech News Cardano (ADA) has been under pressure lately and has dropped nearly 12-15%, slipping below the $0.6 level for the first time in nearly two months. It’s currently hovering around the $0.59 to $0.60 mark, which is a critical support zone for the altcoin. While the broader crypto market isn’t in panic mode, the ADA price seems to be losing steam. What’s Dragging the Cardano (ADA) Price Down? One of the main reasons behind the decline is the bearish technical momentum building up on the charts. Technical indicators are also signalling downward pressure, which is expected to be strong and may continue unless the buyers step in. ADA is also forming a possible falling wedge pattern, which is typically a bullish reversal sign, but it is not confirmed yet. Therefore, if the price breaks below the current support, the next stop could be around $0.57 or even $0.5. The above chart shows the price being stuck within a descending parallel channel while holding a crucial support zone. Currently, the price has reached the same support zone between $0.6 and $0.61, but is showing fewer signs of a positive rebound. If the price fails to trigger a rebound, a drop to the next support at $0.51 is viable. However, a rebound may elevate the levels to $0.65, which appears unlikely as the RSI is about to reach the lower threshold. A drop within the oversold range could validate a bearish continuation. Long-Term Holders are Taking Profit On-chain data reveals another red flag: ‘Age Consumed’—a metric that tracks the movement of older coins that have not been transacted for a significant period, just hit a 9-month high. This spike signals the diminishing confidence among the investors, as a rise in the metric suggests the long-term holders are cashing out and hence a negative impact on the ADA price could be imperative. This behaviour of the long-term holders seems concerning, as the markets, specifically Cardano, could face excessive selling pressure. This could make ADA more challenging to regain the positive momentum in the short term, keeping the short-term targets activated. This could be a key reason why the Cardano price is struggling to hold its ground. What’s Next for the ADA Price? Now the big question: Is this just a dip or something more serious? If Cardano can hold above the $0.6 level, we might see a bounce back toward $0.66 or even $0.70. But if that support breaks, $0.57 is the next line of defence. A drop below that? Then $0.50 could come into play quickly. The current Cardano (ADA) price action is a mix of technical weakness, long-term holders selling off, and bearish trader sentiment. While it’s not time to panic, it’s definitely a moment to watch closely.

Meist gelesene Nachrichten

Ripple Unveils Urgent 4-Point Plan to Ignite...
2025-06-20
Global Impact: Lion Group Launches Massive Cr...
2025-06-20
Missed XRP? Qubetics Ranks in the Best Crypto...
2025-06-20
Bitcoin Price Bottoms Out? Recovery Hopes Ris...
2025-06-20
Italy slams EU budget rules as senseless
2025-06-20
Dogecoin Shows Signs Of Life With Bottoming S...
2025-06-20
Ethereum whale stakes $18M at a loss, but ret...
2025-06-20
Pi Awaits Listing and Near Eyes $3, While Blo...
2025-06-20

Ähnliche Neuigkeiten

Trump to Hold National Security Council Meeting Fr...
20 Jun 2025
Bitcoin Sentiment Shows Balanced Bullish and Beari...
20 Jun 2025
Bitcoin sentiment at ‘peak FUD’ with divide betwee...
20 Jun 2025
Short-Term Bitcoin Holders Sell 15,000 BTC at Loss...
20 Jun 2025
XRP Price Won’t Dip Below $2, Here’s Why
20 Jun 2025
As Bitcoin Cools Off, Investors Are Focusing on MA...
20 Jun 2025

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen