Cardano (ADA) Breaks Below Critical Support Levels as Altcoin Dominance Weakens

Cardano (ADA) slipped further into bearish territory after breaking below its 30-day SMA, triggering algorithmic sell signals and sparking renewed downside ￰0￱ technical breakdown comes amid weakening sentiment across the altcoin sector, as Bitcoin dominance rises to 57.73% and liquidity dries up for mid-cap ￰1￱ altcoin investors showing caution ahead of looming ￰2￱ decisions, ADA’s trajectory will hinge on whether it can hold above critical Fibonacci support ￰3￱ Breakdown Triggers Exits ADA’s breach of key moving averages reinforced bearish divergence on the ￰4￱ MACD histogram flipped negative (-0.0103), confirming momentum loss, while the RSI (49.41) remains neutral but leaves room for further ￰5￱ traders likely exited positions as ADA lost ￰6￱ next significant support lies at the 61.8% Fibonacci retracement level ($0.82795).

A close below $0.81 could set the stage for a deeper drop toward the 78.6% Fibonacci level at $0.776. Altcoin Market Rotation The broader market context further explains ADA’s ￰7￱ Altcoin Season Index fell 3.7% in 24 hours to 52, signaling reduced investor appetite for mid-cap assets. Meanwhile, Bitcoin dominance climbed to 57.73%, adding pressure to altcoins.