Cardano (ADA) has been hovering around $0.24 since the uptrend collapsed to $0.26 as global liquidity became tight again. At the time of writing, ADA was trading at $0.24, following a slight rise of 1.17 over a 24-hour period.
During the same period, the altcoin’s trading volume increased by 48% to $600 million, indicating increasing market activity.
Cardano buyers remain in control
Even though the altcoin retraced and the trend reversed, it remained structurally bullish. In the short term, altcoin market demand has not yet weakened.
In fact, buyers showed considerable strength even after the recent price decline. On Binance in particular, demand remains stable, with the altcoin recording 133.7 million in buying volume and 121 million in selling volume.
Altcoins were sitting on a positive market delta of 28 million, suggesting longs largely dominate Binance. Additionally, foreign exchange activity echoes this market behavior.
According to CoinGlass data, Cardano’s Spot Netflow has remained negative for three consecutive days. On April 20, ADA recorded outflows of $60.27 million, compared to inflows of $58.9 million.
As a result, the altcoin’s Netflow fell 244.6% to -$1.29 million, a clear sign of aggressive spot accumulation.
As buyers hold on, the Bulls vs Bears indicator remained positive at 19. At the same time, Cardano’s modified DMI also remained in bullish territory, standing at 5.1.
These momentum indicators indicate near-term market strength and also signal a likelihood of market recovery. So, if buyers remain active, ADA will hold $0.24 and hope to reclaim $0.26 in the short term.
Long-term outlook remains too bearish
However, on weekly charts, the market remains strongly bearish, with excessive bearish momentum. In fact, the altcoin has been trading in a descending channel since late August 2025.
Due to this prolonged downtrend, Cardano’s Relative Strength Index (RSI) has fallen deep into the bearish zone. At press time, the RSI was hovering around 30, almost entering oversold territory.
Such a decline suggests that the market has mostly seen selling activity. Likewise, the altcoin’s Momentum Shift has remained negative since mid-December 2025, confirming the strength of the downtrend.
When these indicators are defined this way, they signal strong downside pressure and a likelihood of the trend continuing. Unless the market environment cools down sustainably, Cardano is expected to decline further.
If this trend continues, ADA could break the $0.24 support and fall to $0.24. However, with a broader and sustained uptrend in the crypto market, ADA will recover $0.29 and rise to $0.3.
Final summary
- Cardano was hovering around $0.24 after recovering from $0.26 as short term the dynamic remains bullish.
- The altcoin remained strongly bearish on weekly time frames, with $0.22 as a critical support level.
