The situation in the Cardano (ADA) market continues to worsen, as confirmed by various technical indicators and trader behavior.
Bearish Sentiment in the Cardano Market
In the last 24 hours, the price of Cardano (ADA) has decreased by 3.43%, reaching $0.6802. Data from Coinglass shows a persistent bearish trend in Cardano’s derivatives market. The open interest level continues to hover around zero, indicating weakening long positions and traders' caution regarding potential price recovery.
Technical Indicators and Support Levels
According to technical indicators, the price of Cardano has declined 22% since May 23, 2025, approaching the critical support level of $0.653, which has held for four months. Now indicators such as the Relative Strength Index (RSI) and the Awesome Oscillator (AO) indicate continued bearish pressure. The RSI has fallen below 50, which indicates that selling pressure is outpacing buying interest, while the AO shows consecutive red bars below zero.
Movement Limits in Descending Channel
Cardano remains confined within a descending channel that has defined its price movement since early 2025. Analyst Ali Martinez noted that the token is currently trading around $0.755, approaching the upper boundary of this channel. If ADA breaks above the $0.79 resistance level, this could mark a turning point for recovery, however, until the token escapes the channel, the bearish trend will remain predominant.
Current indicators and trends in the Cardano (ADA) market point to increasing bearish pressure. Traders are watching to see if the token can hold the support level of $0.653 and break out of the descending channel.
