$ADA

Cardano Flows Hit 2-Month High Amid Long-Term Downtrend

Cardano price has dropped to $0.84, with high outflows and low user activity deepening the negative sentiment in the market.

DAA price divergence and Chaikin Money Flow indicators point to weakening momentum, with investors increasingly skeptical.

Reclaiming $0.85 as support could target $1.00, but sustained outflows and negative sentiment could risk further declines to $0.77.

Cardano’s current price of $0.84 has fallen below the critical support level of $0.85. While ADA has managed to hold above this level in recent days, the past 24 hours have seen renewed pressure, leading to further losses. This decline puts ADA in a critical position.

If ADA fails to reclaim the $0.85 support level, it risks a drop to $0.77. This decline could be exacerbated by continued high outflows, which weaken the stability of the asset’s price. This scenario is likely to increase bearish sentiment and push investors further away.

Conversely, reclaiming $0.85 as support could provide ADA with an opportunity to recover. Successfully reversing this level could enable ADA to target $1.00 as a support floor once again. However, such a recovery is highly dependent on improving sentiment and reducing capital outflows.