Home Altcoins News Cardano Holds $0.61 Support Amid Bearish Pressure

Cardano Holds $0.61 Support Amid Bearish Pressure

Cardano Price Rally

Cardano (ADA) has once again found a crucial lifeline near the $0.61 mark, a price level that has emerged as a key battleground between bulls and bears. Although buyers have stepped in to defend this zone multiple times in recent sessions, the broader trend remains bearish, with the ADA price still struggling to break above critical resistance levels. The next few days could be decisive in determining whether ADA can stage a sustained recovery or if further downside is in store.

Strong Support Around $0.61–$0.63

In recent price action, ADA has shown resilience in the $0.60 to $0.63 range. Each time the token dips into this zone, buyers appear to accumulate aggressively, effectively stopping deeper declines. This support range is significant not only because of its repeated validation but also due to increased buying volume around these levels, indicating growing interest from bullish participants.

This accumulation has managed to keep ADA afloat in the short term, giving traders hope for a potential breakout if momentum builds. However, the presence of strong resistance just overhead continues to cap any bullish momentum, suggesting that Cardano is still caught in a larger bearish structure.

Bearish Trend Still Dominates

Despite holding above $0.61, Cardano’s overall trend remains downward. The inability to close above the $0.74 resistance level has resulted in repeated pullbacks, often wiping out short-lived gains. Every attempt by the bulls to break through higher levels has so far been met with swift rejection, reinforcing the view that ADA is trading within a descending channel.

Adding to the bearish sentiment, the Supertrend indicator has flipped negative. This technical signal suggests the path of least resistance could remain to the downside unless bulls can invalidate the pattern by closing above resistance zones.

Momentum Indicators Offer Mixed Signals

Interestingly, not all technical indicators are bearish. The Relative Strength Index (RSI), a key momentum gauge, recently rebounded from oversold territory. This move could be a sign of building strength, suggesting that the bearish pressure may be losing steam. A rising RSI often precedes short-term rallies, and if the trend continues, ADA might be able to test the $0.69 resistance in the near term.

Still, the bigger challenge lies beyond that level. For Cardano to shift its medium-term outlook to bullish, the price would need to break and hold above the $0.73–$0.74 resistance range. Without this breakout, any rally may be short-lived, and the bears could regain control quickly.

Cardano’s Technical Tug-of-War

The ADA price action highlights an ongoing tug-of-war between buyers defending a critical floor and sellers maintaining pressure near resistance. This range-bound trading suggests that the market is in a consolidation phase, likely waiting for a catalyst—either bullish or bearish—that could drive a significant move.

Until that breakout or breakdown occurs, ADA may continue to trade within its current range. Traders and investors are closely watching the support zone between $0.60 and $0.63, as a decisive break below could open the door to further losses toward the $0.55 region.

Conversely, a strong push above the $0.73 level would likely invalidate the current bearish structure, potentially igniting a fresh wave of buying and setting ADA up for a more extended rally.

Outlook and What to Watch Next

For now, Cardano remains in limbo—supported by buyers who continue to defend key levels but weighed down by resistance that has yet to be convincingly broken. As long as ADA stays above $0.61, the potential for a bullish breakout remains alive. But unless key resistance levels are cleared soon, the market may continue to see sideways or downward action.

Investors should keep an eye on volume trends, RSI movements, and any shifts in Supertrend indicators for clues on where the price could be heading next. Until then, ADA’s rally is on pause, caught in a battle between cautious optimism and persistent bearish pressure.

Read more about:
Share on

Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

Crypto newsletter

Get the latest Crypto & Blockchain News in your inbox.

By clicking Subscribe, you agree to our Privacy Policy.

Get the latest updates from our Telegram channel.

Telegram Icon Join Now ×