Cardano (ADA) Struggles Near $0.66 as Market Faces Sharp Downturn

3 hours ago 6

March 11, 2025 by Kashif Saleem

Cardano (ADA) plunged over 10% in 24 hours, nearing critical $0.66 support.
Ali Martinez highlights $0.80-$0.66 as a make-or-break zone; breaking $0.66 may trigger a sell-off.
200-day EMA at $0.7382 acts as resistance; RSI at 43.57 signals ongoing bearish momentum.

Cardano (ADA) has been caught in a whirlwind of volatility, mirroring the broader crypto market’s struggle. In the past 24 hours, ADA has lost more than 10%, while its weekly decline has stretched beyond 29%. The pressure on altcoins continues to build, leaving investors on edge as uncertainty grips the market.

At the heart of the discussion is whether ADA can hold onto its key support range between $0.80 and $0.66. Top analyst Ali Martinez pointed to this zone as crucial for setting the stage for any potential rebound. With Cardano now hovering dangerously close to $0.69, the market is at a tipping point. If this level holds, a turnaround might be in sight, but failure could spark a deeper sell-off.

Cardano Teeters on the Edge of Breakdown

ADA recently tested the lower boundary of its support zone, dipping close to $0.66. Earlier today, a brief recovery attempt saw the price climb to $0.76, but that move was swiftly rejected, leading to another downturn. The current price action signals growing bearish momentum, with traders keeping a close eye on whether buyers can step in to defend the key level.

A break below $0.66 could be a game-changer, potentially dragging ADA toward $0.60 or lower. Such a move would confirm a loss of support and likely trigger further selling. On the other hand, if Cardano stabilizes above this mark and manages to reclaim $0.70, it could spark a push toward the $0.75-$0.80 resistance zone.

Technical Indicators Paint a Grim Picture

The 200-day Exponential Moving Average (EMA), sitting at $0.7382, is proving to be a major hurdle. Cardano slipping below this long-term trend indicator suggests that the market structure is weakening. If bulls regain control and push ADA back above the 200 EMA, it could signal a shift in momentum, setting the stage for a rally toward $0.75-$0.80.

Adding to the concern, the Relative Strength Index (RSI) currently stands at 43.57, hovering below the neutral 50 level. This indicates that bearish momentum is in play, and if selling pressure continues, a further drop in price remains a strong possibility.

As the market navigates a wave of uncertainty, all eyes remain on Cardano’s $0.66 support. If buyers step in at this level, the possibility of a strong rebound grows. Historically, this price range has seen demand resurface, fueling recovery attempts. If the price manages to break back above $0.70, a run toward $1 could still be within reach.

However, if the support level collapses, the fallout could be severe. A move below $0.66 would open the door for further losses, dragging ADA closer to $0.60 or even lower. The next few trading sessions will be crucial in determining whether Cardano finds stability or sinks deeper into bearish territory.

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