Cardano (ADA) continues to face mounting bearish pressure, trading below $1.00 after failing to breach the $1.13 resistance level. While Bitcoin enjoys an upward trajectory, ADA’s divergence from the leading cryptocurrency has raised concerns among investors.
Cardano Investors Face Rising Losses
Cardano’s recent price action has been marked by an increase in realized losses. Data shows that more investors are selling their ADA at a loss, reaching a two-month high. This bearish trend highlights growing uncertainty in the market.
The current sentiment suggests caution, with sellers stepping back and market activity slowing. As investors wait for stronger bullish signals, Cardano’s recovery may remain delayed.
ADA’s Correlation with Bitcoin Declines
Cardano’s correlation with Bitcoin has dropped to 0.40, indicating a growing decoupling from the broader market leader. Historically, such a divergence has preceded price corrections for ADA.
Without Bitcoin’s stabilizing influence, Cardano appears increasingly vulnerable to standalone volatility. This weakening connection underscores ADA’s fragility and the challenges it faces in regaining momentum.
ADA Price Prediction: Can Cardano Reclaim Support?
In the last 24 hours, Cardano’s price has dropped by nearly 10%, settling at $0.95. The cryptocurrency is struggling to break past the $0.99 resistance level, reflecting ongoing bearish sentiment.
The recent decline pushed ADA below the psychological support of $1.00. If selling pressure continues, the price could test $0.85, a level it nearly reached during yesterday’s session.
However, a rebound above $0.99 could signal the start of a recovery. Reclaiming this level might enable Cardano to target $1.13 as its next resistance. Such a move would invalidate the bearish outlook and restore investor confidence.
