Peter Smith
Cardano (ADA) takes a hit with bearish technical signals emerging on hourly charts. The crypto is now trading at $0.8272 after a rough 24-hour period.
Cardano (ADA) just can't catch a break. The crypto has been getting hammered over the past day, dropping 4.9% and now sitting at $0.8272. What's got traders worried is the mini-death cross that's formed on the hourly chart – basically a fancy way of saying the short-term momentum has turned sour.
Here's the thing about mini-death crosses: they're not as scary as the full-blown version, but they're still bad news for anyone hoping prices keep climbing. It happens when a short-term moving average dips below a longer one, and it usually kills whatever rally was happening.
ADA Price Still Up Despite Recent Beatdown
Don't get too depressed though – Cardano (ADA) has actually been crushing it lately. We're talking 10.3% gains over the past week and a massive 50.8% jump over the last month, according to CoinMarketCap. That's pretty solid performance, even with this recent stumble.
The problem is that trading volume has dried up. We've seen a 23.5% drop to $1.72 billion, which tells us people are getting nervous and stepping back from their ADA positions. When volume drops like that, it's usually not a great sign for price action going forward.
Can Cardano (ADA) Price Actually Hit $1 This Time?
Earlier this week, ADA made a serious run at the $1 mark that had everyone talking. The price shot up to $0.93 on Monday – the highest we've seen since March 2025. For a hot minute there, it looked like we might finally break through that psychological barrier that's been haunting ADA holders for months.
But here's where things got messy. Despite all the hype, ADA couldn't punch through the $0.95 resistance level. People started taking profits, the broader market cooled off, and technical indicators were screaming "overbought." Classic crypto move, really.
The good news? This might just be a breather before the next leg up. Charles Hoskinson has been dropping hints about major network updates coming in August, which could give ADA the boost it needs to finally crack that $1 ceiling. Sometimes these pullbacks are exactly what you need before making the real move.
Peter Smith
