Hoskinson Says ‘Attack Failed’ As ADA Breaks Key Support Zone
The post Hoskinson Says ‘Attack Failed’ As ADA Breaks Key Support Zone appeared on BitcoinEthereumNews.com.
Cardano trades near $0.398 after losing the multi-month $0.52 support zone that anchored the structure. Spot outflows continue, with $2.5M leaving exchanges as sellers dominate while ADA tests its long-term trendline. Hoskinson says the “attack failed” after network turbulence, but the chart shows momentum still favoring a deeper downside toward $0.38–$0.32. Cardano price today trades near $0.398 after breaking below a multi-month support zone. The drop pushes ADA into a critical test along the ascending long-term trendline as sellers continue to pressure the market following a spike in negative spot flows and broader risk weakness. Buyers Lose Key Weekly Support On the weekly chart, ADA has decisively lost the horizontal support near $0.52, a level that acted as a floor multiple times during the past year. The current candle has expanded through that range and tapped the rising trendline that originates from the 2023 lows. Source: TradingView This trendline now stands as ADA’s final structural defense. A clean close below it would confirm a full break of the multi-year wedge and open the door toward the lower demand zone near $0.32. The downside extension is clear, and buyers have not shown a strong reaction yet. Weekly RSI sits around 33, drifting toward oversold territory. MACD continues to slope downward with a widening separation between signal lines, showing momentum remains aligned with sellers. Downtrend Strengthens On Lower Timeframes The 4-hour chart shows ADA trading below the declining channel. Price remains below the 20, 50, 100, and 200 EMA cluster, confirming a persistent bearish structure. Source: TradingView Every bounce has been capped near the $0.43 to $0.46 zone. The channel’s lower trendline and the EMA cluster reinforce this ceiling. Until ADA closes above these levels, traders will continue to treat each recovery as reactionary rather than trend-forming. Parabolic SAR dots remain above…
Filed under: News - @ November 22, 2025 4:28 pm