The Cardano price today is under pressure, trading just above $0.76 after failing to break above the $0.81 resistance for a second consecutive session. While ADA recently staged a strong rally off the $0.58 low, this momentum now appears to be stalling as intraday indicators flash early warning signs of weakness.
With Cardano price volatility tightening and multiple support zones in play, May 16 could define whether ADA resumes its uptrend or confirms a correction.
What’s Happening With Cardano’s Price?
After a clean breakout above descending trendlines on May 9, Cardano price action surged toward the $0.81–$0.82 resistance but has since faced repeated rejection. The 4-hour chart shows a new descending trendline forming from the recent high of $0.8602, while price is now testing horizontal support around $0.76–$0.765.
The weekly Fibonacci chart highlights $0.8008 (Fib 0.5) as a critical pivot, which ADA briefly reclaimed before falling below it again. The rejection aligns with broader weakness across altcoins and suggests the local high may have been set unless bulls regain control soon.
ADA Slips Below Key Support on Lower Timeframes
On the 30-minute chart, ADA has decisively broken below $0.796 and is now hovering near $0.770–$0.775. The red supply zones above mark the rejection area that continues to cap upside. RSI has dropped to 29.9 — deep in oversold territory — while MACD shows bearish momentum building, with widening histogram bars and downward crossovers.
If Cardano price fails to hold $0.76 on a closing basis, the next support lies near $0.748, followed by $0.72. This lower level also aligns with a key trendline from the April–May breakout zone, making it a strong area for bullish defense.
Why Cardano Price Going Down Today?
The Cardano price update reveals that momentum has turned against the bulls following multiple failed attempts to break above $0.81. This has resulted in short-term traders taking profits, dragging ADA lower.
Why Cardano price going down today is directly linked to this rejection and weakening intraday signals. The 30-minute RSI breaking below 30 suggests panic exits may have triggered additional sell pressure, especially as ADA sliced through the mid-range support at $0.78.
Moreover, Bollinger Bands on the 4-hour chart are widening as price hugs the lower band — a clear sign of Cardano price volatility expanding to the downside. Unless ADA reclaims the 20 EMA ($0.8019), the bears remain in control.
Can ADA Rebound or Is Deeper Correction Likely?
Despite the pullback, ADA’s larger trend remains constructive. The daily chart shows ADA holding above the April trendline breakout, and EMAs are still stacked bullishly. However, immediate recovery would require a close above $0.80 followed by strength toward $0.82–$0.84. Without this, the risk of a retest of $0.748–$0.72 remains elevated.
Cardano Price Forecast Table for May 16
| Indicator/Zone | Level (USD) | Signal |
| Resistance 1 | 0.8000 | Near-term breakout zone |
| Resistance 2 | 0.8200–0.8600 | Overhead supply |
| Support 1 | 0.7650 | Immediate intraday level |
| Support 2 | 0.7480 | Trendline + horizontal zone |
| Support 3 | 0.7200 | Structural support cluster |
| RSI (30-min) | 29.95 | Oversold |
| MACD (30-min) | Bearish | Momentum weakens |
| Volatility Outlook | Expanding | Downside risk increasing |
The Cardano price today is at a crucial tipping point. As long as bulls hold $0.76 and reclaim the mid-range zone of $0.78–$0.80, ADA can resume higher. But if pressure persists, Cardano price spikes seen last week could unwind quickly, bringing a revisit of the broader support zone near $0.72 back into focus.
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