Cardano Price Slips as DeFi Activity Declines, Key Levels to Watch
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Cardano price has seen a steep decline of over 55% from its November highs, as the broader DeFi activity across the ecosystem continues to fade. It is worth noting that the DEX volumes have hit new lows, raising concerns about real-world usage and investor engagement.
Unlike Solana, which is riding a wave of ETF momentum, Cardano lacks immediate bullish catalysts. That’s not all, recent news around the Leios upgrade have failed to garner investor interest.
It goes without saying that, one of the key reasons for ADA’s lukewarm price action is the rejection at the $0.61 resistance zone. With no clear narrative to drive near-term demand, ADA continues to consolidate below key resistance levels.
So where is it heading next? What levels should one watch? Join me as I take you through short term Cardano price analysis.
At the time of writing, ADA price is down 0.74% over the last 24 hours at $0.5828. However, the 24-hour volume has surged by 20.73% to reach $624.32 million. ADA’s market valuation hovers around $20.64 billion, which is still a 0.76% drop.
As evident from the chart, the Bollinger Bands hint at a squeeze, reflecting low volatility and a potential breakout in the works. However, the price still remains capped below the 20-day SMA at $0.6057, which again is a near-term resistance. Traders should watch out for two key horizontal resistance levels at $0.613 and $0.6554. Meanwhile, the support lies near $0.5734 and the critical demand zone at $0.5235.
Also Read : Will Cardano (ADA) Price Hit $1 in 2025?
Giving more insights, the RSI currently sits at 46.98, below the neutral 50 mark, indicating a lack of bullish strength. Momentum remains weak, and without a volume-backed breakout above $0.61, ADA is likely to remain range-bound.
Holding ADA, and concerned about its future? Read our Cardano (ADA) Price Prediction 2025, 2026-2030!