Cardano (ADA) Price Today Is Under Pressure, Trading Just Above $0.76

The Cardano price today is under pressure, trading just above $0.76 after failing to break above the $0.81 resistance for a second consecutive session.

After a strong rally off the $0.58 low, Cardano price is encountering resistance around the $0.81 level for the second consecutive session. This has stalled the recent momentum, and intraday indicators are now flashing early warning signs of weakness.

As Cardano price volatility tightens and multiple support zones come into play, May 16 could decide whether ADA resumes its uptrend or confirms a correction.

What’s Happening With Cardano’s Price?

Following a clean breakout above descending trendlines on May 9, Cardano price action quickly surged toward the $0.81–$0.82 resistance. However, after multiple attempts to break through, the sellers have maintained control.

The 4-hour chart shows a new descending trendline forming from the recent high of $0.8602, while price is now testing horizontal support around $0.76–$0.765. This level coincides with the lower zone of the recent breakout zone, which spanned from $0.748 to $0.76.

The weekly Fibonacci chart highlights $0.8008 (Fib 0.5) as a critical pivot, which ADA briefly reclaimed before falling below it again. This rejection also aligns with broader weakness across altcoins, suggesting the local high may have been set at $0.8602 unless bulls regain control quickly.

ADA Slips Below Key Support On Lower Timeframes

On the 30-minute chart, ADA has decisively broken below $0.796 and is now closely approaching the lower zone of support around $0.770–$0.775. The red supply zones above mark the rejection area that continues to cap upside.

Relative Strength Index (RSI) has dropped to 29.9—deep in oversold territory—while Moving Average Convergence Divergence (MACD) shows bearish momentum building, with widening histogram bars and downward crossovers.

If Cardano price fails to maintain $0.76 on a closing basis, the next support level is at $0.748, followed by $0.72. This lower level also aligns with a key trendline extending from the April–May breakout zone, making it a strong area for bullish defense, especially if Fib support at $0.71 (Fib 0.38) is breached.

Why Is Cardano Price Going Down Today?

The Cardano price update highlights a shift in momentum as bulls struggled to break through the $0.81 resistance, prompting short-term traders to take profits and drag ADA lower.

Why Cardano price is going down today is directly linked to this rejection and weakening intraday signals. The 30-minute RSI breaking below 30 suggests panic exits may have triggered additional sell pressure, especially as ADA sliced through the mid-range support at $0.78.

Moreover, Bollinger Bands on the 4-hour chart are visibly widening as price closely follows the lower band—a clear indication of Cardano price volatility expanding to the downside. To shift the tide back in favor of the bulls, ADA needs to rise above the 20 Exponential Moving Average (EMA) at $0.8019.

Can ADA Rebound Or Is Deeper Correction Likely?

Despite the pullback, ADA’s larger trend remains in a constructive light. The daily chart shows ADA holding above the April trendline breakout, and EMAs are still stacked bullishly. However, immediate recovery would require a strong close above $0.80 and strength toward $0.82–$0.84 to keep the door open for more gains. Without this, the risk of a retest of $0.748–$0.72 remains high.