Eseandre Mordi
⬤ Cardano's kept sliding today, with the token approaching the 0.45 zone after another day of selling pressure. Some observers think dumping ADA at current prices could be shortsighted, even though the market is clearly in downtrend territory. The price movement shows ongoing weakness, with the asset failing to find its footing after weeks of steady losses.
⬤ ADA is trading around 0.456 right now, sitting near its lowest point since early autumn. The daily chart shows price firmly under the long-term moving average, which keeps sloping down and confirms the negative momentum that's been building. Recent candles show continued pressure, and the RSI stays stuck in the lower range, matching the bearish pattern that's formed through October and November. Volume has been moderate but leaning toward sellers, suggesting buyers aren't rushing in to catch the falling knife.
⬤ Despite the downward pressure, some market commentary points out that this zone might actually be a decent accumulation spot for anyone thinking beyond the immediate trend. The thinking goes that ADA has historically gone through long correction phases before bouncing back during wider market rallies. Looking at the chart structure, the asset has been moving down with barely any relief rallies, which creates the sense that it might be getting close to exhaustion levels. This fits with the idea that selling ADA at these prices might not account for its longer-term potential.
⬤ Cardano's continued weakness reflects the cautious mood across crypto markets, but this compression phase could turn into a pivot point once momentum finds some balance. Traders will be watching to see if ADA keeps drifting lower or starts building a base that could shift the narrative. The next few days might be crucial in figuring out whether the downtrend has more room to run or if ADA is starting to show early stabilization signals.
Eseandre Mordi
