Cardano Price Holds Steady, But Buyers Should Exercise Caution

Cardano's price has been down by 3.65% to $0.215 in the past 24 hours, underperforming a slightly weaker crypto market after its 22.86% weekly rally.

The immediate selling pressure comes from technical rejections near resistance and broader market weakness with capital rotation out of altcoins contributing to the decline.

If Cardano's price holds onto the $0.213-$0.215 support zone, it may consolidate, but a break below it could send the price towards $0.20. However, there are three key reasons not to buy ADA yet: on-chain activity remains weak, competition for capital is getting tougher, and major resistance lies ahead.