What Happened to Cardano Last Week?

The sell-off in the cryptocurrency market deepened over the weekend, with major assets extending their weekly losses.

Cardano (ADA) was significantly affected, experiencing increased selling pressure and triggering a “death cross” signal on its short-term charts.

A death cross, indicating bearish momentum, occurs when the short-term moving average crosses below the long-term moving average. For Cardano, this pattern appeared on the four-hour chart as the 50-period moving average fell below the 200-period moving average. This signal suggests potential further declines for the ADA.

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According to Santiment, historical data shows that low seven-day average trader returns for leading cryptocurrencies, including ADA, increase the likelihood of a rebound. The online analytics company also noted that when we see such low 7-day average trader returns for leading cryptocurrencies such as BTC, ETH, ADA, XRP and others, the likelihood of a rebound increases significantly.

A relief rally for ADA could target the 50-day SMA at $0.397 and further at $0.43. A sustained break above the 200 day SMA at $0.50 could initiate a bullish recovery for Cardano, allowing it to break out of its current trading range. Conversely, if the decline continues, Cardano could find support between $0.31 and $0.33.

At the time of writing, ADA is down 3.5% over the past 24 hours to $0.3474 and down 15% for the week.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.