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Zycrypto

05/07/2025

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Cardano Walks on Thin Ice as Lower Highs and Lower Lows Take Center Stage

Cardano (ADA) continues to traverse murky waters, as evidenced by its consistent downward trend, which is evidenced by lower highs and lower lows. ADA’s bearish momentum is illustrated by the ninth-largest...

Cardano Walks on Thin Ice as Lower Highs and Lower Lows Take Center Stage

ADA Shows Strong Whale Activity Amid Cardano Becoming the Face of Argentina's First Legitimate Smart Contract

Cardano (ADA) continues to traverse murky waters, as evidenced by its consistent downward trend, which is evidenced by lower highs and lower lows.

ADA’s bearish momentum is illustrated by the ninth-largest cryptocurrency trading below all major exponential moving averages (EMAs).

Source: TradingView

Furthermore, the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) are now showing any signs of a bullish divergence.

Bullish divergence shows that even though an asset’s price is dropping, downward momentum is declining, illustrating a potential reversal to an uptrend.

This usually happens when an asset makes lower lows, but technical indicators, such as RSI and MACD, are making higher lows.

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Therefore, bears have taken the driver’s seat in the Cardano network based on these on-chain metrics.

Is there Light at the End of Cardano’s Tunnel?

Cardano will need to shatter major resistance at the $0.66, $0.68, and $0.70 zones to increase its chances for a bullish reversal.

Renowned market analyst Ali Martinez pointed out, “Cardano was rejected at the top of its descending channel ($0.66), potentially setting up a move toward $0.63, or even $0.54 if pressure persists.”

Source: Ali Martinez

ADA was down by 8.4% in the past week to hit $0.65 at the time of writing, according to CoinGecko data.

Nevertheless, all hope has not been lost since whales scooped up more than 410 million ADA tokens last month, which might suggest that this was calm before the storm because they expected bullish momentum to build up in the short term.

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If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Tip: To find them its easiest to search for "Otavio"Vote for Us


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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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