Growth
ADA Bulls Struggle to Hold $0.20 After Channel Breakdown
Cardano (ADA) is under pressure after breaking below a rising channel that supported its recovery since June. The token traded near $0.208 on October 24, leaving bulls with little room for error. Analysts warn that further losses could follow if sellers maintain control. Meanwhile, weakening network activity adds another concern for traders. The next crucial support level for ADA is $0.20, which must attract fresh buying pressure to prevent a deeper decline. The token's momentum indicators currently favor sellers, with the daily RSI at 36.53 and the MACD line at -0.0068, below the signal line at -0.0035. Traders are watching $0.20 as the next crucial support level, with a breakdown exposing lower targets near $0.18 and $0.16. A sustained recovery above $0.22 would weaken the bearish setup.