Cardano's price has dropped over 24% to $0.9, primarily due to profit-taking and broader market corrections following Bitcoin's dip below $100K.
Technical indicators and on-chain metrics suggest further ADA bearish momentum and increased selling pressure.
Learn why is Cardano price down today and what are the ADA price predictions for 2025.
The
cryptocurrency market is witnessing a significant correction in Cardano (ADA)
prices, with the token experiencing a sharp decline to $0.9, representing a 24%
decrease in the past 24 hours. This downturn comes after an impressive 216%
surge in November, raising questions about the sustainability of ADA's recent
rally.
Why Is Cardano Price Down
Today? The Biggest Daily Slump Since 2021
During
Monday's session, ADA's price dropped nearly 16%, closing the day at $1.
Intraday declines were even steeper, reaching a local low of $0.91. This
represented a temporary 24% loss for Cardano, marking the largest single-day
drop in over three years, since September 2021, when ADA's price fell by 30%.
Today,
Tuesday, December 10, 2024, ADA's price is seeing a slight correction, up 1.3%.
Currently, Cardano is trading at $1.02 on Binance. However, the recent drop
significantly impacted Cardano's total market capitalization, which now stands
at $35.6 billion, pushing the token to the ninth position among the largest
cryptocurrencies by market cap.
Why is Cardano price down today? Source: TradingView
Despite the
decline, investor activity remains robust, with daily trading volume at $3.8
billion, exceeding that of Binance Coin (BNB), which is currently the
sixth-largest token in circulation.
What is the current Cardano market capitalization? Source: CoinMarketCap
Current Market Status
The price
correction in Cardano reflects broader market dynamics and profit-taking
behavior. After reaching significant highs, ADA is showing signs of exhaustion
as traders engage in profit-taking activities. The Relative Strength Index
(RSI) has exited overbought territory, suggesting a cooling period for the
asset.
Recent
technical analysis reveals that Cardano is testing critical support levels. The
token's price action has formed bearish patterns, with increased selling
pressure from short-term holders.
Looking at
the ADA/USD chart, the price has stalled around the $1.25 level, which aligns
with local highs from April 2022, and is currently stuck in a consolidation
phase between this level and the $0.90 support.
As long as
these two levels hold, I would expect the upward trend to continue. My outlook
will only change if the support zone, additionally reinforced by the 23.6%
Fibonacci retracement, is breached. In that case, it could open the door to
further levels marked on the chart and described in more detail below.
I believe any dips would present opportunities to accumulate ADA at lower and
more attractive prices. A break below $0.68, however, would shift my
perspective to a more bearish outlook.
Technical Support and
Resistance Levels
Key
Support Zones:
$0.9176 –
23.6% Fibo retracement
$0.9 – psychological support line
$0.8 – local highs from March 2024
$0.68 – local highs from December 2023
$0.3 – lows from 2024
Resistance
Areas:
$1.1 – local high from November 2024
$1.25 – current main resistance zone,
highs from November and December
$1.32 – intraday high from late November
$1.3349 – 38.2% Fibo retracement
ADA Volume Analysis
Trading
volume analysis indicates significant liquidations at higher price levels. Over
the past 24 hours, $1.6 billion has been wiped from the market, with $1.4
billion coming from leveraged long positions. Larger tokens account for most of
this movement, though ADA also has a visible share. In total, $23 million was
liquidated from leveraged positions in Cardano during the day, $20 million of
which came from longs.
Fundamental Factors Behind
the Cardano Price Drop
Profit-Taking Pressure
The primary
driver of the current price decline is widespread profit-taking following ADA's
substantial gains. After climbing over 114.5% in the past year, investors are
naturally securing their profits, creating downward pressure on the price.
The
immediate price trajectory appears challenging, with analysts predicting
potential consolidation in the coming weeks. Current technical indicators
suggest ADA could experience further correction before finding stable support.
Several
elements could influence future price movement:
Overall
cryptocurrency market conditions
Regulatory
developments
Technical
breakthrough implementations
Institutional
adoption rates
Should You Invest in
Cardano (ADA)?
The
platform continues to evolve with technological advancements and ecosystem
developments, which could positively impact future valuations. Network
improvements and increasing adoption rates remain crucial factors for long-term
price stability.
While
Cardano's current price correction might concern some investors, it represents
a natural market cycle following significant gains. Technical indicators
suggest a period of consolidation, but fundamental strengths remain intact.
Investors should consider both short-term volatility and long-term potential
when making investment decisions.
The
combination of technical analysis, market sentiment, and fundamental
developments indicates that while ADA may experience continued pressure in the
near term, the overall trajectory maintains positive momentum for future
growth. However, as with all cryptocurrency investments, careful consideration
of risk factors and market conditions remains essential.
Cardano Price Prediction,
FAQ Section
Why is the Cardano price
low?
Cardano's
recent price movements reflect profit-taking after a 168% surge over the past
month, with the price currently at $1.02. The market is undergoing a natural
correction phase following this substantial growth.
What is happening with ADA
Cardano?
ADA has
reached a market cap above $40 billion for the first time in three years, with
futures open interest hitting a 40-month high of $1.18 billion. The network's
Total Value Locked (TVL) has significantly increased from $230 million to $705
million in December 2025.
Will ADA recover from
current levels?
Technical
analysis and market experts predict ADA will continue its growth trajectory,
with forecasts suggesting prices between $1.21 and $1.34 by the end of December
2024. Long-term projections indicate potential growth to $2.76 by 2025.
Is Cardano expected to go
back up?
Market
analysts maintain a bullish outlook, with predictions for 2024 ranging between
$1.21 and $2.02. Factors supporting this growth include increased whale
accumulation, network developments like the Hydra protocol, and growing DeFi
adoption.
The
cryptocurrency market is witnessing a significant correction in Cardano (ADA)
prices, with the token experiencing a sharp decline to $0.9, representing a 24%
decrease in the past 24 hours. This downturn comes after an impressive 216%
surge in November, raising questions about the sustainability of ADA's recent
rally.
Why Is Cardano Price Down
Today? The Biggest Daily Slump Since 2021
During
Monday's session, ADA's price dropped nearly 16%, closing the day at $1.
Intraday declines were even steeper, reaching a local low of $0.91. This
represented a temporary 24% loss for Cardano, marking the largest single-day
drop in over three years, since September 2021, when ADA's price fell by 30%.
Today,
Tuesday, December 10, 2024, ADA's price is seeing a slight correction, up 1.3%.
Currently, Cardano is trading at $1.02 on Binance. However, the recent drop
significantly impacted Cardano's total market capitalization, which now stands
at $35.6 billion, pushing the token to the ninth position among the largest
cryptocurrencies by market cap.
Why is Cardano price down today? Source: TradingView
Despite the
decline, investor activity remains robust, with daily trading volume at $3.8
billion, exceeding that of Binance Coin (BNB), which is currently the
sixth-largest token in circulation.
What is the current Cardano market capitalization? Source: CoinMarketCap
Current Market Status
The price
correction in Cardano reflects broader market dynamics and profit-taking
behavior. After reaching significant highs, ADA is showing signs of exhaustion
as traders engage in profit-taking activities. The Relative Strength Index
(RSI) has exited overbought territory, suggesting a cooling period for the
asset.
Recent
technical analysis reveals that Cardano is testing critical support levels. The
token's price action has formed bearish patterns, with increased selling
pressure from short-term holders.
Looking at
the ADA/USD chart, the price has stalled around the $1.25 level, which aligns
with local highs from April 2022, and is currently stuck in a consolidation
phase between this level and the $0.90 support.
As long as
these two levels hold, I would expect the upward trend to continue. My outlook
will only change if the support zone, additionally reinforced by the 23.6%
Fibonacci retracement, is breached. In that case, it could open the door to
further levels marked on the chart and described in more detail below.
I believe any dips would present opportunities to accumulate ADA at lower and
more attractive prices. A break below $0.68, however, would shift my
perspective to a more bearish outlook.
Technical Support and
Resistance Levels
Key
Support Zones:
$0.9176 –
23.6% Fibo retracement
$0.9 – psychological support line
$0.8 – local highs from March 2024
$0.68 – local highs from December 2023
$0.3 – lows from 2024
Resistance
Areas:
$1.1 – local high from November 2024
$1.25 – current main resistance zone,
highs from November and December
$1.32 – intraday high from late November
$1.3349 – 38.2% Fibo retracement
ADA Volume Analysis
Trading
volume analysis indicates significant liquidations at higher price levels. Over
the past 24 hours, $1.6 billion has been wiped from the market, with $1.4
billion coming from leveraged long positions. Larger tokens account for most of
this movement, though ADA also has a visible share. In total, $23 million was
liquidated from leveraged positions in Cardano during the day, $20 million of
which came from longs.
Fundamental Factors Behind
the Cardano Price Drop
Profit-Taking Pressure
The primary
driver of the current price decline is widespread profit-taking following ADA's
substantial gains. After climbing over 114.5% in the past year, investors are
naturally securing their profits, creating downward pressure on the price.
The
immediate price trajectory appears challenging, with analysts predicting
potential consolidation in the coming weeks. Current technical indicators
suggest ADA could experience further correction before finding stable support.
Several
elements could influence future price movement:
Overall
cryptocurrency market conditions
Regulatory
developments
Technical
breakthrough implementations
Institutional
adoption rates
Should You Invest in
Cardano (ADA)?
The
platform continues to evolve with technological advancements and ecosystem
developments, which could positively impact future valuations. Network
improvements and increasing adoption rates remain crucial factors for long-term
price stability.
While
Cardano's current price correction might concern some investors, it represents
a natural market cycle following significant gains. Technical indicators
suggest a period of consolidation, but fundamental strengths remain intact.
Investors should consider both short-term volatility and long-term potential
when making investment decisions.
The
combination of technical analysis, market sentiment, and fundamental
developments indicates that while ADA may experience continued pressure in the
near term, the overall trajectory maintains positive momentum for future
growth. However, as with all cryptocurrency investments, careful consideration
of risk factors and market conditions remains essential.
Cardano Price Prediction,
FAQ Section
Why is the Cardano price
low?
Cardano's
recent price movements reflect profit-taking after a 168% surge over the past
month, with the price currently at $1.02. The market is undergoing a natural
correction phase following this substantial growth.
What is happening with ADA
Cardano?
ADA has
reached a market cap above $40 billion for the first time in three years, with
futures open interest hitting a 40-month high of $1.18 billion. The network's
Total Value Locked (TVL) has significantly increased from $230 million to $705
million in December 2025.
Will ADA recover from
current levels?
Technical
analysis and market experts predict ADA will continue its growth trajectory,
with forecasts suggesting prices between $1.21 and $1.34 by the end of December
2024. Long-term projections indicate potential growth to $2.76 by 2025.
Is Cardano expected to go
back up?
Market
analysts maintain a bullish outlook, with predictions for 2024 ranging between
$1.21 and $2.02. Factors supporting this growth include increased whale
accumulation, network developments like the Hydra protocol, and growing DeFi
adoption.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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⚖ Balanced reporting
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