Cardano Price Pressured as Selling Dominance Takes Hold
Cardano's (ADA) price has been under pressure, trading at $0.215 and down 8.05% on the day.
The asset remains below its key moving averages and technical benchmarks indicate short-term and long-term pressure.
However, Cardano's network activity has increased, with daily transactions reaching 32,841, indicating higher on-chain usage and utility for ADA.
The total value locked in Cardano DeFi climbed 6.05% to $58.01 million in 24 hours, reflecting improved decentralized finance engagement.
A privacy-focused partner network is set to launch in late March 2026 with institutional involvement from Google Cloud and eToro, but ADA's price action remains under selling pressure.
Technical indicators show momentum readings remain negative, with MACD, ADX, and Awesome Oscillator issuing sell signals.
The predicted short-term range for ADA is $0.196 to $0.234, with a 64% probability of further downside.