In the latest turn of events in the cryptocurrency market, the token Cardano (ADA) has fallen sharply beneath the $0.58 USD mark, as intense selling pressure and weak on-chain activity combine to cast a gloomy light on its near-term outlook.
A Sharp Drop and Weakening Momentum
As of Monday afternoon (03 Nov 2025), ADA declined about 6 % on the day, continuing a roughly 10 % loss from the previous week. One of the immediate red flags: active daily addresses on the Cardano network fell from roughly 32,115 on 11 Oct to about 24,280 on 3 Nov, suggesting user engagement is dropping.
On the derivatives front, the long/short ratio for ADA registered just 0.75 — the lowest level in a month — meaning short-positions dominate long ones and traders are broadly betting on further decline.
Technicals Turning Bearish
Looking at chart indicators: ADA was rejected at the resistance near $0.70 before sliding downward. The Relative Strength Index (RSI) on the daily chart stands at about 32 — well below the neutral 50 level — indicating bears are in control. The MACD is ready to form a bearish crossover, and its histogram bars have begun shrinking, which signals weakening buying strength.
Possible Support & If the Bounce Happens…
If the selling persists, ADA might test the next support zone around $0.49 USD. On the flip side, if a reversal takes hold, a rebound could attempt to retest the $0.70 mark.
What This Means for Investors
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The drop in on-chain activity suggests fewer users are interacting with Cardano’s network — often a warning sign of diminishing interest or utility.
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The dominance of short-positions signals that many traders are positioning for further downside rather than expecting a quick revival.
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Technical indicators align with this bearish sentiment; until the RSI cycles up or the MACD signals a positive crossover, expecting a strong recovery could be risky.
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For longer-term holders, this may be a period to watch carefully, but for traders, the focus may shift to whether the $0.49 level holds or breaks under pressure.
Final Thoughts
In sum: Cardano’s recent slide under $0.58 is more than just a simple price drop — it’s accompanied by weakened user engagement and heightened bearish bets. Unless the trend reverses, this may not be the time to assume the bottom has arrived. As always, crypto markets are volatile and unpredictable — any investment decision should be made with caution and awareness of the risks involved.
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