The post Cardano Price Crashes 13%, Nears $0.50: Is a Drop To $0.40 Next? appeared on BitcoinEthereumNews.com.

The crypto market is experiencing a significant surge in selling pressure, resulting in massive liquidations of nearly $1.5 billion. Amid such conditions, Cardano (ADA) trades at $0.55, recording a near 13% drop in the last 24 hours. With a current market cap of $19.56 billion, ADA remains the 10th largest cryptocurrency by valuation. Amid the increased supply, the trading volume has increased to $1.6 billion over the last 24-hour period. This increase in volume as price is declining shows a growing demand among traders. Will this crash the ADA price under $0.50? Cardano Price Analysis The Cardano price trend has remained bearish since December 2024 after the sudden bull run. During this downtrend, the ADA price trend has been making lower highs and lower lows.  A descending trendline connecting the highest points since December 2024 can be observed. This trendline has acted as a strong resistance, consistently pushing the price lower each time it approaches.  Cardano has declined nearly 55% from its December peak at $1.23 to the current price level of $0.55. This increases the bearish anticipation of the $0.50 breakdown.  The rectangular consolidation zone formed between March and early April has now broken to the downside. This indicates a bearish trend continuation. Cardano is trading below all the crucial daily EMAs (20, 50, 100, 200) at $0.55. There is a significant gap of 17% from the closest EMA at $0.66.  The 20 EMA crossing below the 50 EMA in late March formed a “death cross” pattern, a trend continuation signal.  MACD has been bearish with readings of -0.0105, -0.0396, and -0.0291. The histogram is in negative territory, and the MACD line remains below the signal line, confirming the current downtrend and suggesting a potential continued bearish pressure.  ADA Price Targets Currently, the key resistance levels, based on the…

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Filed under: News - @ April 7, 2025 1:23 pm