Cardano’s (ADA) Plunge Shakes the Market—More Pain Ahead? – BlockNews.com
😲 ADA Drops 10%, More Losses Possible: Cardano is testing critical flag support, and a break below $0.60 could trigger further downside. Whale Activity Declining: Large holders have reduced trading by 8.24%, signaling weak confidence and low buying interest at current levels. Key Support Zone in Focus: If ADA holds above $0.60, it may stabilize and attempt recovery, but bearish momentum and weak sentiment make a rebound uncertain. Cardano [ADA] just
- ADA Drops 10%, More Losses Possible: Cardano is testing critical flag support, and a break below $0.60 could trigger further downside.
- Whale Activity Declining: Large holders have reduced trading by 8.24%, signaling weak confidence and low buying interest at current levels.
- Key Support Zone in Focus: If ADA holds above $0.60, it may stabilize and attempt recovery, but bearish momentum and weak sentiment make a rebound uncertain.
Cardano [ADA] just nosedived 10%, catching bulls off guard and sparking fear among investors. With bearish momentum piling up, the altcoin looks vulnerable to further downside, possibly testing its flag support level and slipping below $0.60.
Adding fuel to the fire, whale activity has shrunk by 8.24% in just 24 hours, signaling a dip in confidence among large holders. Could this spell even more losses for ADA?
ADA’s Bearish Momentum is Strengthening
The latest price crash has left ADA in a fragile position. As of now, Cardano is flirting with a key support zone, and technical indicators aren’t painting a pretty picture. Bearish signals are flashing across the board, hinting at a possible continuation of the downward trend.
This setup? It’s textbook bearish flag formation—a pattern that often precedes another leg down.
If support crumbles, ADA could tumble below $0.60, a level it hasn’t touched in months.
Adding to the trouble, whale activity has dropped significantly (over 8.24% decline per IntoTheBlock data). This suggests big-money players are stepping back, reducing trade volume and reinforcing the lack of buying interest.
With institutions—often regarded as market movers—sitting on the sidelines, selling pressure could intensify, dragging prices even lower.
Will the Flag Support Hold, or Is a Bigger Drop Coming?
The flag support zone is now the battleground. If ADA breaches this level, a wave of sell orders could flood in, leading to even deeper losses.
Historically, when these support levels break, the fall is steep—and ADA might not be the exception.
Right now, all eyes are on the $0.60 psychological level. A break below this zone could open the floodgates for further selling.
But there’s a flicker of hope. If ADA manages to hold this critical support, it could stabilize and consolidate, paving the way for a potential bounce-back.
That said, with market sentiment leaning bearish and whale activity dwindling, the odds are stacked against a quick recovery. For now, ADA holders should brace for volatility—because the next move could be decisive.
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