Cardano News Today: Cardano's ADA: Technical Bearishness vs. Foundation's Web3 Expansion in Regulatory Limbo

Cardano's ADA price held firm above $0.63 on October 23, maintaining support within a narrowing symmetrical triangle pattern as traders anticipate a potential breakout toward $1.70. The cryptocurrency, which has faced sustained selling pressure, remains within a key technical structure defined by resistance near $0.77 and support at $0.60, with clustered exponential moving average (EMA) levels at $0.69, $0.76, and $0.77 forming a critical overhead barrier. Coinglass data revealed $1.34 million in ADA net outflows on the same day, signaling cautious on-chain positioning amid broader market uncertainty, according to a Coinedition report.

Technical indicators suggest a pivotal juncture for ADA. The Parabolic SAR remains above price action, reinforcing short-term bearish control, while buyers must push the price decisively above $0.70 to reclaim momentum. A clean break above the EMA cluster could trigger a rally toward the $0.82–$0.92 range, aligning with Fibonacci retracement levels that previously capped prior advances. Conversely, a breakdown below the $0.605 support level could expose ADA to further declines toward $0.55 or a retest of the $0.51 base, the Coinedition article warned.

Fundamental developments offer a counterbalance to the bearish on-chain flows. The Cardano Foundation confirmed plans to apply for .ada and .cardano generic top-level domains (gTLDs) ahead of ICANN's 2026 application window, a move aimed at expanding the ecosystem's visibility across Web2 and Web3. This initiative, fully funded by the Foundation, could enhance ADA's utility and brand recognition, potentially attracting new users and developers, the Coinedition article noted.

Meanwhile, broader market dynamics highlight diverging investor sentiment across crypto assets, with Bitcoin ETFs surging with $90.6 million in net inflows on October 24, pushing cumulative totals to $61.98 billion, while Ethereum ETFs faced $93.6 million in outflows, according to a Coinotag report. The U.S. government shutdown has further complicated the regulatory landscape, stalling SEC decisions on Grayscale's Cardano ETF and three XRP ETFs. Despite these delays, prediction markets on Polymarket assign a 77% probability of Cardano ETF approval by December 2025, a Coinotag piece noted, driven by optimism around the blockchain's compliance-ready infrastructure and developer activity.

The interplay between macroeconomic factors and project-specific developments creates a complex backdrop for ADA. While on-chain outflows persist, the absence of large liquidation spikes suggests long-term holders remain resilient. This contrasts with the recent volatility in altcoins, where Ethereum's price struggles below $4,000 have amplified investor caution, as noted in the Coinotag report. For Cardano, the combination of technical consolidation, foundational upgrades, and regulatory optimism could position it for a breakout in the coming months, provided market conditions stabilize and the SEC resumes normal operations.