- ADA struggles with bearish momentum, forming lower highs and lower lows in April.
- Key support at $0.6500 is holding, but a drop to $0.6400 remains possible.
- RSI at 40.83 signals weak momentum, while MACD stays in bearish territory.
Cardano (ADA) has kicked off April on a cautious note, with its price dipping to $0.6571 as of early trading hours. This marks a 3.56% decline in the last 24 hours, reflecting broader market hesitation. The cryptocurrency’s market cap also took a hit, falling by 3.49%, while trading volume slumped by a notable 18.29%.
This decline in activity suggests a weakening in investor sentiment. The question now is whether this is a temporary dip or the start of a larger downward trend.
Price Movement and Trend Overview
ADA opened around $0.6808 before steadily declining throughout the day. The pattern has been consistent, forming a series of lower highs and lower lows—an early indicator of bearish momentum.
While a minor bounce followed a sharp dip, the price remains under pressure. The current movement hints at a lack of buying strength to reverse the trend. Traders are closely watching if ADA can hold above key support levels.
Support and Resistance Zones
Immediate support lies around the $0.6500 mark. ADA has tested this level several times, managing to bounce slightly. However, if selling pressure continues, the next support may emerge near $0.6400. This level previously served as a consolidation zone and may now provide a temporary floor.
On the upside, ADA faces immediate resistance at $0.6700. This level has repeatedly rejected bullish advances. A stronger ceiling stands at $0.6808. Reclaiming this high would be essential for any credible recovery.
Technical Indicators Show Weak Momentum
The RSI currently stands at 40.83, indicating weak bullish strength without yet being oversold. A push above 45.94 is necessary to spark upward momentum. Meanwhile, the MACD remains in negative territory.
The MACD line is below the signal line, showing that bearish sentiment still dominates. No bullish crossover has occurred, suggesting continued risk of either further decline or sideways movement.
