Cardano ADA Drops 2% Daily Amid Strong Selling Pressure Near Key Support

Generated by AI AgentCoin World
Sunday, Aug 10, 2025 9:51 am ET1min read
ADA
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Aime RobotAime Summary

- Cardano (ADA) fell 2% to $0.7933 but gained 9.29% weekly amid crypto market volatility.

- Strong selling pressure pushes ADA near critical support levels at $0.79 and $0.78.

- Analysts warn further decline to $0.78 if support fails, with buyers showing limited resilience.

- A potential $0.8955 breakout could drive ADA toward $1, but current resistance remains key.

- Broader market dynamics will influence ADA’s stability or continued downward movement.

Cardano (ADA) is currently trading at $0.7933, reflecting a 2% decline from the previous day’s close but maintaining a weekly gain of 9.29%. This mixed performance highlights the ongoing volatility in the cryptocurrency market [1]. According to CoinStats, the selling pressure remains strong, pushing the price closer to a critical support level of $0.79 [1]. Analysts are monitoring the price closely, as a failure to rebound from this level by the end of the day could lead to a further correction toward $0.78 [1].

The key support levels at $0.79 and $0.78 are seen as crucial for the potential stabilization or recovery of ADA’s price. These levels serve as psychological and technical thresholds that could influence market sentiment and trading activity [1]. While the current price reflects a bearish short-term trend, the weekly performance suggests some resilience in the asset, with buyers managing to push the price higher despite ongoing selling pressure [1].

Technical analysis of the hourly chart indicates that the price of

ADA
is near the local support level of $0.79. A failure to reverse the downward trend by the close of the day could signal a continuation of the correction phase, potentially pushing the price to $0.78 [1]. On a larger time frame, buyers have not been able to reclaim the initiative after a bullish closure the previous day, indicating that the market remains cautious [1].

Looking at the mid-term outlook, traders are advised to monitor the weekly candle, particularly in relation to the $0.8955 level. A breakout above this level could accumulate enough momentum to push the price toward the $1 mark [1]. This scenario, however, remains speculative unless the price can overcome current resistance levels and sustain upward momentum.

The broader market dynamics will play a significant role in determining the direction of ADA’s price in the coming days. Investors are advised to keep a close eye on these key support levels, as they will likely dictate whether the price stabilizes or experiences further downward movement [1].

Sources:

[1]

Cardano
(ADA) Faces Selling Pressure: Potential Support Levels and Future Price Movements (https://en.coinotag.com/cardano-ada-faces-selling-pressure-potential-support-levels-and-future-price-movements/)