Cardano (ADA) Drops 10% in 24 Hours, 29% in a Week Amid Bearish Sentiment

Cardano (ADA) has experienced a significant decline, dropping nearly 10% in the last 24 hours and almost 29% over the past week. Since its inclusion in the U.S. strategic crypto reserve, ADA has fallen 39%, struggling to regain bullish momentum. Indicators such as BBTrend and DMI show that bearish sentiment remains strong, with sellers still in control. If the current downtrend continues, ADA could test key support levels, but a reversal could push it back toward major resistance zones.

The BBTrend indicator for Cardano is currently at -19.52, continuing its decline since yesterday. Earlier this month, from March 5 to March 8, BBTrend remained positive, reaching a peak of 31 on March 6. This shift from positive to negative territory suggests a weakening bullish trend, with increasing downside pressure on ADA price. Traders are now watching whether this decline continues or if ADA can regain momentum.

BBTrend, or Bollinger Band Trend, is an indicator that measures price trends based on Bollinger Bands. It shows whether an asset is in a strong, bullish, or bearish phase. When BBTrend is positive, it suggests strong upward momentum, while negative values indicate growing selling pressure. With ADA’s BBTrend now at -19.52, it signals increasing bearish sentiment, suggesting the price could continue declining unless buyers step in. If the downtrend persists, ADA may test key support levels in the coming days.

The Directional Movement Index (DMI) chart for Cardano shows that its Average Directional Index (ADX) has risen to 34.5, up from 26.6 yesterday. This increase suggests that ADA’s current trend – whether bullish or bearish – is gaining strength. Given that ADA is in a downtrend, the rising ADX indicates that selling pressure is intensifying, making it more difficult for the price to reverse in the short term. ADX measures the strength of a trend on a scale from 0 to 100, with values above 25 indicating a strong trend and above 50 suggesting an extremely strong trend.

Meanwhile, ADA’s +DI (positive directional index) has climbed to 12 from 9.6 yesterday but is slightly down