- ADA dropped below the $1 price level on Monday, crashing 12.47% in the past week.
- The possibility of an ADA ETF in 2025 and partnership with Ripple are bullish for the altcoin.
- ADA’s RSI has turned bearish, reading 48.17 which means that sellers are now in control.
Cardano (ADA) has taken a hit, plunging 12.47% in the past week. It even dipped below the $1 mark after a 7% crash on Monday. The altcoin reached a high of $1.32 in the fourth quarter of 2024 but has been steadily declining. In the last 24 hours, ADA has lagged behind its rivals, rising just 0.65%.
According to the data from CoinMarketCap, ADA is currently trading at $0.9507, down 69.18% from its all-time high of $3.10 reached over three years ago. The digital asset has also fallen 11.48% in the last 30 days and faces resistance at $1, $1.10, and $1.50.
Related: Cardano’s DeFi Network Gets a Lift from BitcoinOS Integration
If ADA climbs back above $1 but can’t break through $1.10, it may drop back down to the $0.90 support level. However, a move above $1.10 toward the $1.50 resistance could signal a potential upswing. To confirm a bullish breakout and reach new all-time highs, the altcoin needs to surpass $1.50 and aim for $2, a high for this cycle.
With a market cap of $33.37 billion, ADA is currently the ninth-largest cryptocurrency. But it could soon overtake Dogecoin (DOGE) and Solana (SOL) if a Cardano exchange-traded fund (ETF) launches in the United States under the crypto-friendly Trump administration.
ADA Price Analysis: Daily Chart
The daily chart from TradingView (shown below) reveals that ADA accumulation has recently declined, despite surging since November 2024. The slope of the line suggests the possibility of further distribution.
The Relative Strength Index (RSI) has turned bearish for ADA, with a value of 48.17. This indicates that sellers currently control ADA’s price action. The RSI line’s slope suggests that ADA’s price may fluctuate between $0.90 and $1 until it breaks out in either direction.
Related: Cardano Founder Reviews CIP-113 Proposal for Real-World Asset Tokenization
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