The post Cardano (ADA) Price Drops 4.6% as U.S. Government Blockchain Exclusion Triggers Selling Wave appeared on BitcoinEthereumNews.com.

Joerg Hiller
Aug 29, 2025 11:18

ADA trades at $0.83 after falling below key $0.90 support, with technical indicators showing mixed signals amid recent government blockchain initiative exclusion.

Quick Take • ADA currently trading at $0.83 (-4.63% in 24h) • Cardano’s RSI at 47.16 suggests neutral momentum despite recent decline • U.S. government blockchain initiative exclusion drives latest selling pressure with $6.88M outflows What’s Driving Cardano Price Today? The ADA price faced significant selling pressure over the past 24 hours following news that Cardano was excluded from the U.S. government’s blockchain data initiative. This exclusion triggered net outflows of $6.88 million on August 29, pushing the token below the critical $0.90 resistance level that bulls had been defending. Despite earlier bullish predictions from August 28 suggesting ADA could test the $0.89-$0.90 zone, the government initiative news overshadowed technical momentum. The exclusion represents a setback for Cardano’s institutional adoption narrative, particularly as competitors like Bitcoin and Ethereum continue to gain regulatory clarity. The selling wave also coincided with broader market uncertainty, as traders had been positioning for potential rate cuts in September that Cardano founder Charles Hoskinson highlighted as influential for ADA’s future trajectory. However, the immediate impact of regulatory exclusion outweighed these longer-term considerations. ADA Technical Analysis: Mixed Signals Emerge Cardano technical analysis reveals a complex picture with the ADA RSI sitting at 47.16, indicating neutral territory rather than oversold conditions. This suggests the recent decline may not have reached capitulation levels yet. The MACD histogram shows bearish momentum at -0.0120, confirming the downward pressure on ADA price. However, Cardano’s position relative to its moving averages tells a more nuanced story. While trading below the 7-day SMA ($0.87) and 20-day SMA ($0.88), ADA remains above both the 50-day SMA ($0.82) and 200-day…

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Filed under: News - @ August 30, 2025 1:28 am