Cardano (ADA) price has dropped 8% in the last 24 hours, bringing its market cap to approximately $32 billion. Over the past 7 days, ADA has fallen more than 13%, signaling mounting bearish pressure.

The recent death cross and rising ADX confirm a strengthening downtrend, with the price hovering between key support at $0.87 and resistance at $0.95. If bearish momentum continues, ADA risks further declines, but a recovery above $0.95 could spark a test of levels beyond $1.03.

ADA Downtrend Is Getting Stronger

Cardano ADX has risen sharply to 23.2, up from 10.5 yesterday, indicating that the market has transitioned from an almost nonexistent trend to a more defined one.

The ADX, or Average Directional Index, measures the strength of a trend on a scale of 0 to 100, with values below 20 indicating weak or no trend and values above 25 signaling a strong trend. With ADA ADX now approaching 25, the market is showing signs of increasing momentum.

This shift in ADA’s ADX suggests that the price has moved into a downtrend, as sellers appear to have gained control. The jump from 10.5 to 23.2 in a single day reflects a significant change in the market, likely amplifying bearish pressure. If this trend continues, ADA price could face further downside, as the strengthening trend confirms growing selling momentum.

Cardano Ichimoku Cloud Shows a Bearish Setup

ADA Ichimoku Cloud chart shows a bearish setup, with the price trading significantly below the cloud. This indicates strong downward momentum, as the bearish trend dominates.

The red cloud (Senkou Span A below Senkou Span B) ahead o

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Author: Tiago Amaral