Cardano price slumps below $0.60 as breakdown triggers multi-support test
Cardano price breakdown shows rejection at $0.65 and test of lower support near $0.50
Cardano (ADA) has entered a deep corrective phase, falling below the critical $0.60 mark after breaching key technical support zones. The asset dipped to $0.511 before recovering modestly to $0.556, but analysts view this bounce as short-lived.
The breakdown from the $0.63–$0.65 range and failure to reclaim the $0.690 descending resistance highlight strong bearish control. The move also invalidated a symmetrical triangle that had been forming since mid-March, signaling a continuation of downside momentum.
Technical indicators remain firmly bearish across multiple timeframes. On the 4-hour chart, ADA trades below the 20, 50, 100, and 200 EMAs, reinforcing sustained downward pressure. The MACD remains bearish, with the histogram only beginning to contract, and no bullish crossover in sight. The RSI hovers near oversold levels at 31.89, while the Stoch RSI indicates a possible short-term bounce but lacks confirmation. Price action remains below the mid-band of the Bollinger Bands, keeping the outlook skewed to the downside.
Cardano price analysis (March 2025 - April 2025) Source: TradingView.
Support zones at risk as momentum fades
The breakdown opens the door to a retest of lower support levels. Immediate resistance stands at $0.6240, with further upside blocked by the $0.690 rejection zone. On the downside, $0.50 is now the primary support. A break below could send ADA into the $0.42–$0.44 demand band, last tested in October 2023. This zone aligns with a bearish flag target and the 1.618 Fibonacci extension near $0.37.
Daily trendlines paint a similar picture, as ADA has broken out of a rising wedge and now trades well below its multi-month ascending trendline. The 23.6% Fibonacci level at $0.7152 has also failed, suggesting that bullish retracement attempts have been invalidated.
Unless ADA reclaims $0.6240 with strong volume and indicator confirmation, analysts believe any bounce should be treated as corrective. The overall structure remains tilted to the downside with bearish dominance reinforced across trend, momentum, and volatility indicators.
In earlier analysis, ADA's inability to reclaim the $0.70–$0.73 zone was identified as a key risk. This breakdown confirms that scenario, putting broader Q2 support levels into focus.
