ADA Sinks to $0.615 as Selling Pressure Mounts and Support Weakens

ADA Struggles to Stay Afloat Below $0.620, but Hints of Support Spark Hope

Cardano’s token ADA stumbled deeper into red territory on Monday, finishing at $0.6154 after dropping 5.35% in 24 hours. It’s been a rough stretch for ADA, which has steadily lost ground since a sharp sell-off ignited around 22:00 UTC on June 16. Each attempt to rally has met resistance, leaving traders wary as prices drift lower.

The slump reflects the broader mood across crypto markets, where fears of tighter monetary policy and geopolitical strains have investors pulling back from risk assets. Yet, amid the gloom, technical analysts see faint signs of resilience.

Earlier on Monday, ADA bounced between $0.622 and $0.626, carving out a gentle upward-sloping channel. The $0.624–$0.625 region has since emerged as a potential pivot—a hopeful beacon for traders looking for signs that ADA might be bottoming out. Still, trading volumes have thinned out, and price swings have narrowed, signaling uncertainty rather than confidence.

For now, the focus remains on whether ADA can defend support in the $0.615–$0.620 range, which could determine if this correction is nearing an end—or has further to run.

Technical Picture

• The decline began at 22:00 UTC on June 16, as ADA dropped through $0.650 support on strong selling volume.
• Efforts to reclaim $0.630 faltered, cementing resistance near $0.640.
• Lower highs confirmed persistent bearish pressure.
• A support band formed between $0.620 and $0.622, highlighted by increased volume.
• The token remains locked in a descending channel with lower highs and lows.
• A small rally lifted ADA from $0.622 to $0.626, creating a micro rising channel.
• Resistance has solidified at $0.626, while $0.624–$0.625 acts as a pivot zone.
• Lower volatility and dwindling volumes point to ongoing consolidation.