Cardano Drops 6.4% in 24 Hours as ADA Slips Toward $0.35 Support

Cardano has faced notable downside pressure over the past 24 hours, extending its short-term bearish trend. As of now, ADA is trading around $0.3512, reflecting a steep 6.44% decline on the day. The move marks one of the sharper daily pullbacks in recent sessions and signals growing caution among traders.

Bearish Pressure Keeps Cardano Pinned Near Support

Over the last 24 hours, ADA traded within a clearly defined downward range. The price climbed briefly toward an intraday high near $0.3767 before sellers regained control. From there, sustained selling pushed ADA lower, eventually reaching a session low around $0.3493. Attempts at recovery were short-lived, with each bounce attracting renewed selling pressure.

_{24-hourprice chart Source: CoinMarketCap}

As a result, price action remained heavy throughout the session. ADA settled near the lower end of the daily range, suggesting weak buyer conviction. The structure continues to favor consolidation with a bearish bias rather than a quick rebound.

Rising Volume Signals Distribution as ADA Slides

Trading activity increased slightly despite the price decline. Cardano recorded a 24-hour trading volume of approximately $635.33 million, up 3.5%. A rising volume during a sharp drop often indicates distribution rather than accumulation. Traders appear to be actively repositioning as uncertainty grows.

Related article: Cardano (ADA) Navigates Conflicting Signals: Bullish Reversal Flashes Amidst Declining TVL and Stablecoin Supply

Market capitalization fell in line with price, now standing at roughly $12.62 billion, down 6.43% on the day. The volume-to-market-cap ratio sits near 5.03%, indicating active turnover but limited bullish commitment. Liquidity remains healthy, yet sentiment has clearly cooled.

Cardano’s circulating supply is estimated at about 35.93 billion ADA, drawn from a total supply of 44.99 billion. The maximum supply remains capped at 45 billion ADA. Fully diluted valuation is currently around $15.8 billion, offering context for longer-term valuation expectations. From a historical perspective, ADA remains significantly below its all-time high of $3.10 recorded in September 2021, representing a decline of nearly 89%. However, it is still up more than 1,900% from its all-time low set in 2017, underscoring the asset’s long-term growth despite recent weakness.

$0.35 Support Emerges as Key Level to Watch

Despite the sharp drop, community sentiment remains surprisingly optimistic. About 88% of participants are bullish, while 12% are bearish. This optimism may help slow further downside in the near term.

Looking ahead, the $0.35 level is critical. Holding above it could allow ADA to stabilize. A sustained break below may invite deeper losses. For now, Cardano remains under pressure as traders wait for a clearer direction.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.