Cardano’s Price Dives: 40% Drop and More Red Flags Ahead 🚨

by

Cardano’s price has just taken a 40% nosedive, thanks to a death cross and sinking ADA ETF hopes. And guess what? It’s not done yet-another 20% drop might be on the horizon.

 

Cardano’s price has been plunging faster than a cat in a bathtub, dropping to a measly $0.6065, which is a whole 40% less than it was just a month ago when it was partying at $1.0196 in August.

So, what happened? Well, the infamous “death cross” formed, and, to make matters worse, the chances of an ADA ETF getting approval have been tanking like a badly executed magic trick. Technical analysis now has us eyeing a gloomy future, with whispers of a further 20% drop. That’s right, folks-next stop: $0.50. 🚀 (But in the wrong direction.)

Cardano Forms Death Cross: A Surefire Signal for More Sorrow

Our poor Cardano has been on a downward slide, sliding from $1.0196 in August to the current $0.6065, like a kid who forgot their lunch money. But here’s the kicker-this latest dip below $0.6858 has formed a “death cross” (sounds ominous, doesn’t it?). This means the 50-day and 200-day Exponential Moving Averages (EMA) have crossed paths, which normally signals that things are about to get worse before they get any better.

In case you missed it, history has not been kind when the death cross appears. The last time this happened, Cardano saw a double-digit drop. A real classic in the “Crypto Goes Downhill” series.

Oh, and just to spice things up, Cardano’s also sporting a head-and-shoulders pattern. It’s like the crypto version of a bad hair day that doesn’t end. All signs point to a continued decline in the near future. And if the support levels don’t hold up, we might be heading straight to the $0.50 mark, which is another 20% plunge. Good times, right?

ADA ETF Approval? Don’t Hold Your Breath

If you thought Cardano’s problems were confined to chart patterns, think again. The odds of an ADA ETF approval have been sinking faster than a rock in a lake. Despite having a $24 billion market cap, Cardano has only received one ETF application from Grayscale, while coins like XRP and Solana are racking up ETF applications like they’re collecting Pokemon cards.

Polymarket data shows that the odds of an ADA ETF approval have dropped to 68%, a huge plunge from 96% in September. Apparently, no one told Cardano that the crypto market is all about “getting in the ETF game.” And as Solana and Hedera start trading their funds, Cardano is left wondering why it hasn’t made it to the party.

But hold on, folks, don’t completely write off the Grayscale Cardano ETF. There’s still a tiny chance it could get approved by year-end. That said, Cardano’s ecosystem is still struggling to gain interest from issuers, mainly because-well-there’s not much going on over there. With a Total Value Locked (TVL) of under $300 million, it’s struggling to keep up with the likes of Ethereum, Solana, and Binance Smart Chain (BSC). Ouch.

Cardano’s Bearish Mood: Not Just a Phase

And if you thought things were looking up, think again. The broader market isn’t doing Cardano any favors. In fact, Cardano’s lack of active development and sluggish ecosystem growth have left it trailing far behind the cool kids-Ethereum and Solana.

Investors are starting to realize that Cardano is like the kid in class who just can’t seem to get their homework done. Unlike its rivals, Cardano’s ecosystem isn’t growing at the pace needed to keep investors interested. So, unless Cardano can break above the $0.6858 resistance level (fingers crossed, right?), we might be in for more of this downward spiral.

So, while Cardano’s future doesn’t exactly look like the next big success story, there’s still a tiny glimmer of hope. If it can somehow turn things around, we might see a recovery. But for now, let’s just say the outlook isn’t exactly rosy-more like cloudy with a 100% chance of crypto drop. 😬

Read More

2025-10-31 06:42