Cardano’s native token, ADA, has been the hardest-hit among the top 10 cryptocurrencies this week, with its price falling by 8% in the last 24 hours. This decline saw ADA briefly retest the $0.84 support level, a drop that coincides with a broader market downturn affecting assets like Bitcoin, Ethereum, and Solana.
Despite the recent bearish performance, technical analysis on the 4-hour chart suggests that if the $0.84 support holds, ADA could be positioned for a rebound. The token’s relative strength index (RSI) of 44 indicates it is nearing oversold territory, while the MACD lines have recently turned bearish.
As of this report, ADA is trading at $0.8491. Should it maintain its position above the $0.84 support, analysts believe it could rally toward the next resistance at $0.9570, potentially retesting last week’s high of $1.0198. Conversely, a drop below the $0.84 level could send ADA to the next major support zone at $0.7685, and a prolonged sell-off could even push it toward August’s low of $0.6820.
August 2025, Cryptoniteuae
