Cardano (ADA) Has Fallen Below the Key Support Level of $0.66

The altcoin is now trading at $0.6570, recording a daily decline of 2.69% and a weekly loss of over 11.68%.

Cardano (ADA) fell below a key support, continuing some of its weakest performances in recent months.

Here's how it unfolded:

What Happened: Cardano dropped below the support at $0.66, continuing its recent weakness. It is now trading at $0.6570, down 2.69% over the past 24 hours and over 11.68% on a weekly basis.

The total crypto market capitalization currently stands at around $2.68 trillion, showing only a modest 0.44% daily gain. The most-leading altcoins like XRP and Ethereum saw triple-digit losses on a weekly basis. Bitcoin (BTC) dropped by 5.51% over the past week, while Ethereum fell by 12.32%. Solana (CRYPTO: SOL) is down by 12.68%. But Cardano’s 11.68% weekly loss makes it one of the most heavily affected assets among the top ten.

The recent downturn in ADA’s price comes amid heightened uncertainty in the market due to President Trump’s reciprocal tariff announcement. The policy aims to impose duties on foreign goods equal to the tariffs those countries place on U.S. exports. This has led to concerns about a potential slowdown in global trade and economic activity.

Related Link: President Trump Announces Plans For Reciprocal Tariffs On Goods From France, Germany And China

Technical Breakdown Confirms Bearish Sentiment

According to technical data, ADA remains below its 200-day Fibonacci-based Band (FBB), which is positioned at around $0.8474. This long-term indicator is often seen as a critical resistance zone by traders. The inability to break above this level is reinforcing the bearish trend.

The Relative Strength Index (RSI) — a key momentum indicator — is currently reading around 40.89. An RSI reading below 50 usually suggests that sellers have more strength in the market. In ADA’s case, the RSI staying close to or below 40 might indicate weak buyer interest and a continuation of the downward trend.

Can ADA Defend The $0.60 Support?

Trading volume further confirms the bearish sentiment. In the past 24 hours, Cardano’s trading volume stood at about $669 million. This figure is notably lower compared to Solana’s $2.66 billion and XRP’s $4.12 billion during the same period.

Lower trading volumes during periods of price decline usually indicate that fewer buyers are stepping in to absorb the selling pressure. This situation leaves the market more vulnerable to severe pullbacks as even moderate selling can push prices lower.

With ADA now trading firmly below $0.66, the next critical support appears to be at $0.60. If Cardano fails to hold this level, further losses could occur, possibly leading to a retest of lower zones not seen since late 2023.