Cardano (ADA) has been struggling to surpass the critical $1.13 level in recent weeks and continues its downward trend. Currently trading below $1, the cryptocurrency reflects its ongoing battle to regain momentum.
While Bitcoin shows signs of growth, Cardano faces increased selling pressure, raising investor concerns about its short-term outlook.
Rising Realized Losses for Cardano Investors
Cardano investors are now experiencing the highest realized losses in the past month, as many are selling their positions at a loss. This trend highlights the growing bearish sentiment around ADA, which could discourage potential buyers.
As investors retreat, market activity surrounding Cardano declines further, hindering its ability to recover quickly. Traders are hesitant to re-enter the market without clear signals of improvement.
![](https://public.bnbstatic.com/static/content/square/images/09672877f6884b43837e71a84dc48c9b.png)
Declining Correlation with Bitcoin
The correlation between Cardano and Bitcoin has dropped to 0.40, signaling a growing disconnect from the leading cryptocurrency. Historically, this type of divergence often preceded further ADA corrections.
Detaching from Bitcoin leaves Cardano more vulnerable to isolated volatility. While Bitcoin often supports the broader altcoin market, the current situation underscores Cardano's fragility and inability to benefit from wider market movements.
![](https://public.bnbstatic.com/static/content/square/images/2ef16d27d0c9487594e57cd9533d871a.png)
ADA Price Forecast: Key Support Levels
In the past 24 hours, Cardano's price has dropped nearly 10%, currently trading at $0.95. The cryptocurrency remains below the critical $0.99 resistance level, highlighting its ongoing struggle to reclaim lost ground.
If selling pressure persists, ADA could fall to its next key support level at $0.85. This level was nearly tested during the most recent trading session, signaling a risk of further declines.
Conversely, a rebound above $0.99 could provide a foundation for recovery. Reclaiming this level would allow Cardano to target $1.13 as the next resistance, potentially improving market sentiment and restoring investor confidence in future growth.
#ADA , #Cardano , #PricePredictions , #CryptoAnalysis , #Altcoin
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“