Cardano price weakens ahead of May 7 as key $0.65 support faces breakdown
ADA tests $0.65 support with bearish MACD and RSI below 40
Cardano (ADA) continues to trade under pressure near $0.657, with repeated failures to break above the $0.68–$0.70 resistance band fueling a bearish short-term bias. After a sluggish start to May, ADA is struggling to hold key technical levels, and the broader market downturn has added to bearish momentum.
Unless buyers step in to defend the $0.65 support zone, the cryptocurrency risks extending its decline toward deeper retracement levels.
Cardano price dynamics (April 2025 - May 2025) Source: TradingView.
Price stalls beneath all key EMAs
On the 4-hour chart, ADA remains decisively below its 20, 50, 100, and 200-period exponential moving averages—a configuration that confirms a strong bearish posture. The recent breakdown below the ascending trendline drawn from the April swing lows has invalidated bullish structure and left the $0.650 level as ADA’s last major support before a potential acceleration lower.
Momentum indicators add to the caution. The Relative Strength Index (RSI) sits at 35, pointing to persistent selling pressure but not yet oversold conditions. The MACD shows a widening bearish gap, with both the MACD and signal lines below zero and histogram bars growing to the downside. Meanwhile, the Ichimoku Cloud is flashing early warning signs as ADA trades beneath both conversion and base lines, entering a thin but negative cloud region.
Support fragile as downside risk builds
Bears now focus on the $0.644–$0.650 support area. A confirmed close below this band could trigger a drop toward $0.625, and possibly to $0.60, where a key Fibonacci retracement zone resides. These levels also coincide with former demand from late April.
For bulls to regain control, ADA must reclaim $0.672 and break above the $0.688–$0.690 zone, where both the 20-EMA and 50-EMA converge. Only then would short-term sentiment flip positive, paving the way toward $0.70 and higher targets like $0.726. Until that occurs, price action remains vulnerable to further selling.
As covered in prior ADA updates, the failure to sustain bullish breakouts above the $0.688 level continues to weigh on structure. The loss of EMA support and increasing MACD divergence remain consistent with the earlier bearish scenario. Unless volume confirms a reversal, ADA remains exposed to downside risks beneath $0.65.
