Cardano [ADA] has hovered around $0.24 since the uptrend collapsed at $0.26, as the global liquidity has strained again. At the time of writing, ADA traded at $0.24, after slightly rising by 1.17 on a 24-hour timeframe.
Over the same period, the altcoin’s trading volume rose 48% to $600 million, indicating growing market activity.
Cardano buyers remain in control
Even though the altcoin retraced and the trend turned downside, it has remained structurally bullish. In the short-term timeframes, the altcoin’s market demand has yet to weaken.
In fact, buyers have shown substantial strength even after the recent price drop. On Binance specifically, demand remains steady, with the altcoin recording 133.7 million in buy volume and 121 million in sell volume.
The altcoins sat on a positive market delta of 28 million, suggesting buyers largely dominate Binance. Furthermore, exchange activity further echoes this market behavior.
According to CoinGlass data, Cardano’s Spot Netflow has remained negative for three consecutive days. On the 20th of April, ADA saw $60.27 million in outflow compared to $58.9 million in inflows.
As a result, the altcoin’s Netflow dropped 244.6% to -$1.29 million, a clear sign of aggressive spot accumulation.
With buyers holding firm, the Bulls vs. Bears indicator stayed positive at 19. At the same time, Cardano’s Modified DMI also remained in bullish territory, rising to 5.1.
These momentum indicators point to short-term market strength and also signal a likelihood of market recovery. Thus, if buyers remain active, ADA will hold $0.24 and eye to reclaim $0.26 in the near term.
Long-term outlook remains overly bearish
However, on the weekly charts, the market remains strongly bearish, with excessive downside momentum. In fact, the altcoin has traded within a descending channel since late August 2025.
As a result of this prolonged downtrend, Cardano’s Relative Strength Index (RSI) fell deeply into the bearish zone. At press time, the RSI sat around 30, almost entering oversold territory.
Such a drop suggests that the market has mostly experienced sell-side activity. Likewise, the altcoin’s Momentum Shift has remained negative since mid-December 2025, confirming the strength of the downtrend.
When these indicators are set in this manner, they signal strong bearish pressure and a likelihood of trend continuation. Unless the market environment cools down sustainably, Cardano is likely to drop further.
If this trend holds, ADA could breach the $0.24 support and drop to $0.24. However, with a broader crypto market sustained uptrend, ADA will reclaim $0.29 and flip to $0.3.
Final Summary
- Cardano hovered around $0.24 after retracing from $0.26 as short-term momentum remains bullish.
- The altcoin remained strongly bearish on weekly timeframes, with $0.22 as the critical support level.
