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Key Notes
- Cardano (ADA) has seen its price slip to $0.79, corresponding to a 5.16% drop within 24 hours.
- Instead of fundamental news, technical factors are believed to be responsible for this recent decline.
- The next 24-48 hours will determine whether the ADA price pullback will extend toward stronger support levels or not.
In the early hours of July 29, Cardano ADA $0.80 24h volatility: 4.4% Market cap: $28.90 B Vol. 24h: $1.44 B saw its price drop to $0.79, corresponding to a 5.16% decline within 24 hours. Some technical factors are believed to be responsible for this recent decline in ADA price, rather than fundamental news. Analysts developed this explanation after considering that no significant event had occurred in the Cardano ecosystem over the past week.
Lack of Fundamental News Leaves Technical Analysis as Catalyst of ADA Price Action
The previous day, ADA price was sitting at $0.86, but the 5.16% dip took it to $0.79, representing a classic retracement within the broader uptrend. According to market dynamics, crypto enthusiasts entered a profit-taking phase immediately after the commencement of Cardano’s recent rally. Even the ADA/USDT pair recorded increased selling pressure around the $0.86 resistance level.
The absence of key events, which could have served as fresh catalysts for a bull run, has led analysts to attribute the recent ADA price action to overheating. Per the current outlook, traders are now focused on key support and resistance zones.
A look through the technical analysis suggests that there is mixed sentiment for ADA, but the major portion is showing “strong bullish” signs. The price action indicates that there are still prospects for short-term correction. Amidst this slight setback, it is worth noting that ADA has been resilient this July.
Precisely, it has registered a 29.81% gain for July, making it the best-performing month thus far this year. With the price above the 9-Day Moving Average, the bullish momentum is still sustained.
It’s not yet certain whether the ADA price will reach $1.5, but if the pullback extends toward stronger support levels, a lower low may be recorded. If bulls can defend the current price, the coin is likely to resume its upward trajectory.
CoinMarketCap data shows that ADA is now trading at $0.8081, with only a 5.16% price drop over the last 24 houŕs. ADA’s 24-hour trading volume is up by only 4.87% to $1.2 billion, while its market capitalization stands at $28.54 billion. Notably, ADA remains the tenth-largest cryptocurrency by market cap.
Snorter Bot Project Presale Secures Over $2 Million
Instead of losing sleep over ADA price fluctuations, millionaire-minded investors may want to invest capital in Snorter Bot, an aardvark-themed cryptocurrency project.
This Telegram-based trading bot is currently assisting traders in navigating the cryptocurrency sector and identifying the most promising opportunities. By all means, it currently ranks amongst the best crypto presales of 2025. SNORT scans the meme coin market, searching for potential 100x opportunities to make millionaires out of traders.
Current Presale Stats:
Current price: $0.0995
Amount raised so far: $2.19 million
Ticker: SNORT
The fact that investors are not pouring funds in blindly makes it one of the most attractive investments at this time. The official presale website indicates that the token price is set to be adjusted in 1 hour, which is sufficient time to deposit funds. Purchases can be completed using credit or debit cards, as well as cryptocurrency.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Unlock the Secrets of Ethical Hacking!
Ready to dive into the world of offensive security? This course gives you the Black Hat hacker’s perspective, teaching you attack techniques to defend against malicious activity. Learn to hack Android and Windows systems, create undetectable malware and ransomware, and even master spoofing techniques. Start your first hack in just one hour!
Enroll now and gain industry-standard knowledge: Enroll Now!
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