Cardano (ADA) Falls Below Key Support as Institutional Investors Pull Back

Cardano's native token, ADA, fell sharply by over 3% to 64 cents, breaching a key support level and signaling a shift toward bearish market sentiment. This breakdown was preceded by a spike in trading volume on Tuesday as ADA slipped below 64.5 cents. The move reflects growing uncertainty in altcoin markets, evidenced by CoinShares reporting $300,000 in ADA outflows this week, contrasting with significant inflows the previous week. Analysts attribute this rotation out of altcoins toward more stable assets to delays in crypto ETF approvals and general risk-off behavior. Technical indicators now show strong resistance at 65.50 cents, and if buyers fail to reclaim this level, ADA could retest 64 cents with potential for further downside. The broader crypto market also experienced pressure, with the CoinDesk CD5 index dropping 2%.

(Source：CoinDesk)