ADA Slips Below $0.60; 24-Hour Trading Volume Jumps 30% Amid Accumulation Signs

Cardano’s ADA ADA token is struggling to maintain upward momentum, sliding to $0.5965 despite signs of support at the $0.60 psychological threshold, according to CoinDesk Research’s technical analysis model. Earlier price action suggested a bullish reversal pattern, including a potential triple bottom formation, but the failure to hold $0.60 highlights ongoing weakness in the market. What stands out is the surge in 24-hour trading volume, which rose 30% above its 7-day moving average — a sign of increased market engagement. Although short-term price action remains bearish, the rise in activity combined with a reduction in exchange netflows could indicate that ADA holders are shifting toward long-term storage. With over 2,000 decentralized applications and 10.8 million native tokens deployed on the Cardano network, some traders are positioning for a potential rebound if the broader market stabilizes. Technical Analysis Highlights ADA traded between $0.589 and $0.612 over the 24-hour period, a 3.9% range. After testing support at $0.590, buying pressure pushed the price near $0.609, followed by consolidation between $0.597–$0.603. Final hourly candle closed at $0.5965, confirming a break below $0.60 with no immediate bounce. Uptrend structure of higher lows was disrupted, weakening bullish momentum. A 30% spike in 24-hour trading volume suggests elevated participation, though short-term sentiment remains fragile. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk’s full AI Policy .

Source: CoinDesk