Cardano Price Stabilizes Around $0.66 After Sharp Dip: What to Expect?
The post Cardano Price Stabilizes Around $0.66 After Sharp Dip: What to Expect? appeared on BitcoinEthereumNews.com.
Key Insights: Cardano price holds firm at $0.66 after retesting $0.58–$0.62 support zone multiple times since March 2025. Large ADA transactions topped $9.12B in April 2025, signaling renewed whale accumulation. Bitcoin OS enables bridgeless BTC transfers to Cardano, boosting cross-chain functionality without intermediaries. Cardano(ADA) price is holding steady near $0.66 following a sharp drop in early May. The digital asset, trading under the ticker ADA, faced strong market pressure and saw its value dip to a low of around $0.6541. Despite a 2.78% 24-hour loss, data shows the token remains above a key support range. Investors and analysts are now closely watching this zone for signs of stability or further weakness. Cardano Price Technical Structure Holds Near Key Support Levels Cardano’s recent trading range falls between $0.6692 and $0.6936, which reflects a period of low volatility after recent declines. Analysts such as Ali Chart noted that ADA was rejected at the upper boundary of a descending channel. This movement suggests continued resistance and the potential for a short-term dip toward $0.60 or $0.54. Despite the downward movement, ADA price continues to hold above the midline Fibonacci retracement level of 0.618, near $0.739. The price now consolidates just above $0.66, which has acted as an accumulation zone in previous cycles. Chart patterns show consistent rebounds from the lower boundary of a long-term descending channel, a technical structure often watched for breakout setups. Source: X While price action remains limited, recent volume spikes on green candles hint at rising buying interest. Technical momentum indicators such as MACD and RSI are neutral. However, there are signs of hidden bullish divergence developing, where price makes lower lows while indicators make higher lows. Whale Activity Signals Institutional Repositioning On-chain data highlights a sharp increase in large transaction volumes during April 2025. According to blockchain metrics,…
