The post Cardano (ADA) Drops 8.3% as Bears Test Critical Support at $0.71 appeared on BitcoinEthereumNews.com.

Rongchai Wang
Aug 01, 2025 10:48

ADA price falls to $0.72 amid bearish momentum, testing key support levels while technical indicators signal oversold conditions may present opportunity.

Quick Take • ADA currently trading at $0.72 (-8.27% in 24h) • Cardano’s RSI at 43.89 shows neutral territory with potential oversold bounce ahead • No major news catalysts driving today’s decline, suggesting technical correction in progress What’s Driving Cardano Price Today? The ADA price decline appears primarily technical in nature, with no significant news events emerging in the past week to explain today’s 8.27% drop. This suggests the current selloff is part of a broader market correction rather than Cardano-specific fundamentals driving the move. The absence of fresh catalysts often leads to increased volatility as traders focus purely on technical levels and market sentiment. With Cardano’s 24-hour trading volume reaching $139.6 million on Binance spot, the selling pressure appears genuine rather than driven by low liquidity conditions. ADA Technical Analysis: Mixed Signals as Price Tests Support Cardano technical analysis reveals a complex picture with both bearish momentum and potential reversal signals emerging. The ADA RSI currently sits at 43.89, placing it in neutral territory but approaching oversold conditions that historically have marked buying opportunities for patient traders. The MACD histogram shows bearish momentum at -0.0183, indicating that selling pressure continues to dominate. However, Cardano’s Stochastic indicators present an interesting divergence, with the %K at 5.28 and %D at 8.58, suggesting the asset may be severely oversold in the short term. Cardano’s moving averages paint a mixed picture for trend followers. The ADA price currently trades below both the 7-day SMA ($0.78) and 20-day SMA ($0.80), confirming short-term bearish pressure. However, the 50-day SMA at $0.68 sits below the current price, providing underlying support for…

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Filed under: News - @ August 2, 2025 4:27 am