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Key Takeaways:
- Cardano (ADA) dropped 5.16% to $0.79, largely due to technical selling, not ecosystem news.
- Technical indicators remain bullish, with ADA holding above its 9-Day MA.
- Snorter Bot presale raises $2.19M, presenting an attractive opportunity for growth-focused investors.
Cardano (ADA) experienced a sharp 5.16% drop, pushing its price down to $0.79. Analysts believe this recent retracement is primarily driven by technical factors rather than any fundamental shifts within the Cardano ecosystem.
Lack of Ecosystem News Points to Technical Correction
The ADA price had been sitting at $0.86 just the previous day before declining to $0.79. This pattern, common during bullish retracements, appears to be driven by profit-taking following ADA’s 29.81% rally this month. With no major updates or disruptions reported in the Cardano ecosystem, experts suggest the drop is a result of traders cashing in near resistance levels, particularly around $0.86.
Technical Outlook: Strong Bullish Trend Intact
Despite the dip, ADA remains above its 9-Day Moving Average—a sign that the broader bullish momentum is still in play. Technical indicators currently reflect mixed sentiment, but many point toward continued bullishness in the medium term. Traders are now watching for key support and resistance zones to assess ADA’s next move.
If ADA manages to hold the $0.79 support zone, it may resume its upward trajectory. However, a deeper pullback could result in a lower low unless buyers defend this level. Analysts caution that without new ecosystem developments, technicals will continue to dominate the price action.
ADA Market Data Shows Stability Despite Pullback
According to CoinMarketCap, ADA is now trading at $0.8081, recovering slightly from the daily low. Its 24-hour trading volume rose 4.87% to $1.2 billion, while its market cap stands at $28.54 billion, securing its position as the tenth-largest cryptocurrency.
This suggests that while short-term volatility remains, overall investor confidence in Cardano is stable.
Also Read: Cardano (ADA) Surges 60% in a Month — Is a Breakout Above $1 Next?
As ADA undergoes a technical cooldown, some investors are turning to emerging projects like Snorter Bot (SNORT). This Telegram-based trading bot, themed around an aardvark mascot, has already raised over $2.19 million in its presale.
The bot is designed to identify meme coin opportunities with up to 100x potential and is quickly gaining popularity as one of the best crypto presales of 2025. The current presale price of $0.0995 is expected to adjust soon, driving urgency among investors. Purchases can be made using cards or cryptocurrency.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
