Cardano Faces the $0.80 Mark: Will It Bounce Back or Continue to Drop?

Cardano (ADA) is at a pivotal moment as its price approaches the $0.80 support zone, drawing close attention from traders and analysts who are watching to see if this crucial level will hold and prevent further losses. In the last 24 hours,

has dropped by 5.4% to $0.776, bringing its total market value to $27.8 billion. This decline has shifted focus back to technical signals and overall market mood, as investors consider whether a recovery or a deeper drop is more likely.

Technical charts indicate a bearish trend, with the 20-day Exponential Moving Average (EMA) at $0.865 and the 200-day EMA at $0.748, resulting in a bearish crossover. TradingView’s daily summary for ADA/USD currently flashes a “Strong Sell” with 13 sell, 13 neutral, and three buy signals. The Relative Strength Index (RSI) is at 36, which is close to oversold but not yet at a point of full capitulation. Short-term moving averages are still exerting downward pressure, and a slip below $0.80 could put ADA on track to test the $0.74 mark.

Experts stress the significance of the $0.80 support. Market commentator Ali Martinez stated that “as long as ADA remains above $0.80, a bounce to $0.95 is possible,” a sentiment echoed by other analysts. Should this level be maintained, ADA may consolidate before challenging resistance at $0.87 and $0.92. On the other hand, a fall below $0.80 could trigger a wave of stop-loss orders, potentially pushing the price down to $0.78 or lower. The MACD on the hourly chart points to increasing bearish momentum, and the RSI falling under 50 highlights seller dominance.

On the fundamentals side, there are potential catalysts for a rebound. Project Catalyst Fund14 has set aside $18.2 million in ADA to support more than 1,600 ecosystem projects, with voting open until October 6. This effort seeks to tackle Cardano’s hurdles in expanding its applications, such as lagging behind in

coins and certain DeFi areas. The injection of funds could boost developer engagement and attract new users, which might help stabilize the price. Still, the immediate effect of these fundamentals is unclear, as the market continues to face widespread crypto volatility.

Despite short-term weakness, some analysts remain optimistic for the long run, describing ADA as being in an “accumulation phase” that could be overlooked by many. Leading analyst Michaël van de Poppe pointed out that ADA is gaining strength within a new price range after reclaiming ground lost in 2022. He suggested that if ADA can stay above $0.9850, it may aim for $1.24 and potentially set new highs. This optimistic outlook stands in contrast to the current bearish sentiment, highlighting the gap between long-term and short-term perspectives.

The overall performance of the crypto market will also play a role in ADA’s direction.

and Ethereum’s recent struggles to sustain momentum could put pressure on altcoins like . Traders should keep an eye on resistance at $0.94 and support between $0.82 and $0.80, as a move beyond these levels will offer clearer insight into the next trend.

At present, the $0.80 support remains the main focus. Holding above this area could pave the way for a slow recovery, especially if Bitcoin and

manage to stabilize. However, a decisive drop below this level could lead to further declines, possibly sending ADA toward the mid-$0.70 range.