- ADA faces strong selling pressure, with a 19.30% decline and RSI nearing oversold levels.
- Key support is at $0.7693, with resistance at $1.02; further declines could push ADA toward $0.70.
- Cardano is projected to decline slightly to $0.7876 by March 5th, with a 3.90% potential ROI if bullish sentiment returns.
The primary catalyst for Cardano’s recent price surge was the U.S. President Donald Trump’s executive order establishing a Strategic Crypto Reserve. In a post on the Truth Social media platform, Trump announced that he had directed the President’s Working Group on Digital Assets to include XRP, Solana, and Cardano in the reserve. The news triggered a brief rebound in crypto prices which later followed recent sell-offs. However, despite an initial spike, Cardano’s price has largely retreated back to its decline levels.
ADA Price Analysis and Market Performance Overview
Currently,the price stands at $0.814, reflecting a sharp 19.30% decline, which indicates strong bearish momentum. Furthermore, the ADA/BTC trading pair is valued at 0.0009741 BTC, showing an 11.4% decline.
ADA’s market cap currently stands at $29.39 billion, securing its position as the 8th largest cryptocurrency. The 24-hour trading volume has declined by 21.38%, now at $5.34 million. Meanwhile, the fully diluted valuation (FDV) is estimated at $36.79 billion, with a circulating supply of 35.94 billion ADA.
Technical Indicators Signal Weakening Momentum
The MACD (12,26) indicator shows bearish momentum,with the MACD line trading below the signal line and the histogram at -0.0290, indicating recent selling pressure.
Meanwhile, the RSI is at 39.27, nearing the oversold zone but not yet signaling extreme conditions. A recent downward trend in RSI suggests weakening buying strength. Overall, ADA is experiencing a decline, with bearish momentum dominating in the short term.
ADA Key Levels and Price Forecast for March 5th
Cardano’s support price was $0.7693, while its resistance price reached $1.02.The sharp decline may indicate a breach of key support levels, prompting a further decline toward $0.70 or lower is possible.
Conversely, if bullish momentum returns, ADA could recover toward the $0.90 – $1.00 range.According to Coincodex,the price of Cardano is predicted to decline by 0.01% to $ 0.787598 as of March 5th with an increase of 3.90% in Potential ROI.
