Cardano’s Price Dips, But On-Chain Growth Tells a Different Story
Cardano (ADA) is sitting at $0.6015 right now, down about 2% in the past day. Not great, sure, but the bigger picture might be more interesting. Despite the slump, the network keeps growing—fast. Over 5.4 million wallets exist now, with 100,000+ added in just the last two months. That’s not nothing.
Trading volume is holding up, too. Around $700 million in ADA changed hands in the last 24 hours, and community sentiment is oddly upbeat. CoinMarketCap ranks it as the 7th most bullish asset, with over 80% of chatter leaning positive. You’d think the price would reflect that, but here we are.
Mixed Signals From the Charts
Technicals aren’t exactly screaming “buy.” The RSI is hovering near 33, flirting with oversold territory. MACD and Momentum are in the red, though the CCI is flashing a buy signal—small comfort. The moving averages aren’t helping either. The 10-day and 200-day EMAs are both above the current price, which usually means the trend isn’t your friend.
Support at $0.60 is holding for now, but if it cracks, the next stop could be $0.57. Long-term holders seem to be taking profits, which doesn’t help. A quick bounce to $0.66 isn’t out of the question if $0.60 sticks, but without a real shift in mood, it’s hard to see a lasting turnaround.
Then there’s the resistance. That $0.75–$0.78 zone has been a brick wall for ADA in past rallies. Until it clears $0.62 and makes a run at $0.70, the downside risk sticks around.
Is a Turnaround Coming?
Not all hope is lost, though. Some traders are spotting what looks like a triple bottom forming—a pattern that often precedes a reversal. There’s also a falling wedge in play, which usually ends with a breakout. If ADA can hold here and put together a strong weekly candle, things might get interesting.
The upside targets? $1.00 is the first big hurdle, followed by $1.21 and $1.43. But that’s a big “if.” For now, Cardano feels stuck between stubborn growth and a market that just won’t give it a break. Maybe the numbers will win out eventually. Or maybe not. We’ll see.
