Cardano (ADA) Tests Critical Support as Bears Take Control Despite Institutional Backing
The post Cardano (ADA) Tests Critical Support as Bears Take Control Despite Institutional Backing appeared on BitcoinEthereumNews.com.
Zach Anderson
Sep 26, 2025 07:43
ADA trades at $0.77 (-2.88% in 24h) near key support levels, with technical indicators showing mixed signals despite recent Grayscale fund approval.
Quick Take • ADA currently trading at $0.77 (-2.88% in 24h) • Cardano’s RSI at 36.72 suggests oversold conditions approaching • SEC’s Grayscale fund approval provides institutional backing despite recent price weakness What’s Driving Cardano Price Today? The ADA price faces downward pressure today, dropping 2.88% to $0.77 despite positive institutional developments this week. While September 19th brought significant news with the SEC’s approval of a Grayscale fund including ADA, recent market sentiment has shifted bearish, overshadowing this institutional milestone. The contradiction between positive fundamentals and negative price action reflects broader cryptocurrency market uncertainty. Despite analysts’ optimistic ADA price predictions earlier this week suggesting a potential breakout above $0.3988 resistance, current trading data shows Cardano struggling to maintain momentum above critical support levels. The Grayscale fund approval represents a major step toward institutional adoption for Cardano, potentially opening doors for wider exposure among traditional investors. However, immediate market reaction suggests traders are focusing more on technical weakness than long-term institutional prospects. ADA Technical Analysis: Bearish Signals Emerge Cardano technical analysis reveals concerning momentum indicators across multiple timeframes. The most significant signal comes from Cardano’s MACD, which shows a bearish histogram reading of -0.0157, indicating selling pressure continues to build for the ADA/USDT pair. ADA RSI currently sits at 36.72, approaching oversold territory but not yet signaling an immediate reversal. This neutral-to-bearish RSI reading suggests further downside potential before buyers step in. Cardano’s Stochastic indicators paint an even more bearish picture, with %K at 8.31 and %D at 9.43, both deep in oversold territory. The moving average structure adds to bearish concerns, with ADA price…
Filed under: News - @ September 27, 2025 7:26 am