Cardano Price Dips Ahead Of SecondFi Liquidation
Cardano's price has declined by 0.72% to $0.177, slipping below its key support level at $0.18 due to a technical breakdown.
The 7-day moving average and bearish momentum indicators confirm the trend, with the 7-day relative strength index (RSI) standing at 36.19, indicating oversold conditions but ongoing selling pressure.
Network activity has also decreased, with Cardano's total value locked (TVL) falling to approximately $18 million from its peak of $100 million and a 32.55% drop in 24-hour trading volume to $124.7 million.
The lack of stable on-chain utility and reduced market depth are contributing factors behind ADA's weaker performance relative to the broader market, with some analysts looking for signs of ecosystem recovery such as an increase in decentralised exchange (DEX) volume or TVL.