|

Cardano Price Prediction: ADA spells trouble for the bulls as it eyes $1

  • Cardano price cannot shake off the negative sentiment that it is producing.
  • For a third consecutive week, ADA is set to dip lower.
  • Any favorable tailwinds are missing to break current sentiment, but some buy-opportunity might come along.

Cardano price is stuck in the same global route as other major cryptocurrencies like Ethereum and Bitcoin. Any major favorable tailwinds are missing to break current selling sentiment and it does not look like buyers are interested in going long from current levels.

Cardano price needs to drop another 10% before buyers pick up some ADA

Cardano price sees that the short-selling action is very well respected on the upside. Each time ADA dips lower, it makes a false recovery the day after, only to drop below the initial low level and stay there as that support becomes resistance. This was the case for the week of July 5 and is unfolding now again.

ADA cannot seem to get above $1.21, which was the low from the week of June 28. 

On the downside, Cardano price has $1.15, but that level has already been broken several times. It still looks to hold some importance as ADA tested that level last week but could not break below it.

ADA/USD weekly chart

ADA/USD weekly chart

The squeeze to the downside looks to be continuing for another week. This is due to the technical levels at $1.21 and the lack of any positive sentiment surrounding cryptocurrencies. A catalyst or any favorable tailwind is missing that could squeeze short-sellers out of their position and usher buyers back in.

Still, there are opportunities for a long. Further to the downside, Cardano price has a red ascending trend line that has already shown its importance with two confirmed tests where price action bounced off to the upside each time. Expect buyers to defend this level, which this week would be around $1.04. A critical level to watch is if this trend continues in the coming days and if Cardano gets another negative close by the end of the week.

Author

Filip Lagaart

Filip Lagaart is a former sales/trader with over 15 years of financial markets expertise under its belt.

More from Filip Lagaart
Share:

Editor's Picks

Ripple steadies after sell-off as low on-chain activity, retail interest weigh

XRP rebounds from last week’s support at $1.50 but struggles below resistance at $1.77. Active addresses on the XRP Ledger dropped below 18,000 on Sunday amid risk-averse sentiment. Retail interest in XRP continues to decline, with futures Open Interest dropping to $2.81 billion.

Crypto Today: Bitcoin, Ethereum, XRP extend correction amid mixed ETF flows, dwindling retail interest

Bitcoin is trading under pressure at the time of writing on Monday, as digital assets across the board extend their correction following a turbulent week. The King of Crypto holds above $77,000 after a sharp decline that briefly tested lows last seen during April’s tariff-driven selloff at $74,476.

Bitcoin Price Forecast: Falling-knife risks grow as BTC breaches $75,000

Bitcoin price recovers slightly after slipping below $75,000 during the early Asian session on Monday. The crypto market correction intensifies, triggering liquidations totaling nearly $800 million over the last 24 hours.

Pi Network Price Forecast: Pi extends decline as pressure mounts amid core wallet outflows

Pi Network (PI) edges lower by nearly 2% at the time of writing on Monday, extending a broader four-week downfall. Consistent outflows from the Pi Network’s core team wallets account for roughly 17 million PI, implying a sell-off under pressure.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: BTC correction deepens as Fed stance, US-Iran risks, mining disruptions weigh

Bitcoin (BTC) price extends correction, trading below $82,000 after sliding more than 5% so far this week. The bearish price action in BTC was fueled by fading institutional demand, as evidenced by spot Exchange-Traded Funds (ETFs), which recorded $978 million in inflows through Thursday.