Cardano price lowers to $0.6 as bearish momentum intensifies, breaks key support
ADA price tests key Fibonacci support near $0.63 as bearish signals intensify
Cardano (ADA) remained under pronounced pressure Monday, trading near the critical $0.63 zone, as technical indicators across multiple timeframes pointed to sustained downside risk. The asset has broken below key short-term support zones and is now testing the 0.618 Fibonacci retracement level near $0.634 on the daily chart.
This historically significant level often acts as a last line of defense before acceleration toward deeper support. If breached with volume, ADA may tumble toward the psychological $0.6 level, where buyers might attempt to stage a defense.
ADA/USD price analysis (February 2025 - March 2025) Source: TradingView.
Indicators confirm ongoing bearish trend
On the 4-hour timeframe, ADA continues to face rejection near the 50-period EMA at $0.67, with all major EMAs (20, 50, 100, and 200) pointing lower—signaling sustained bearish strength. The RSI has plunged to 22.86, deep into oversold territory, but traders should remain cautious as no bullish divergence is visible.
This suggests that a meaningful reversal may not be imminent despite the oversold conditions. Additionally, Bollinger Bands show price action hugging the lower band, accompanied by widening volatility—another sign of trending weakness. The MACD histogram also remains in the red with its line firmly below the signal, reinforcing the current bearish setup.
Next support zones in focus
Price structure indicates that ADA recently lost its footing at the $0.66–$0.67 region, a previous consolidation zone, and is now entering a high-risk demand area around $0.62–$0.63. If bulls fail to step in here with strong volume, the next support rests near $0.58–$0.6. On the flip side, reclaiming the $0.67–$0.7 band could trigger a sentiment shift, although momentum indicators suggest that a recovery remains unlikely unless broader market conditions improve.
Cardano’s failed attempts to sustain gains above $0.73 and repeated breakdowns from Fibonacci levels have signaled growing bearish pressure. As previously noted, unless ADA recovers above key EMA clusters, the coin remains vulnerable to testing the $0.6 mark and possibly lower.
