Death Cross Forms on ADA Chart: Is Cardano Price Heading to $0.50?

TLDR

• Cardano price dropped to $0.6065 on October 30, down 40% from its August high of $1.0196.
• ADA has formed a death cross pattern where the 50-day EMA crossed below the 200-day EMA.
• The token broke below the critical support level of $0.6858, which was the August low.
• Analysts forecast Cardano price could fall another 20% to reach $0.50 in 2025.
• ETF approval odds for Cardano dropped sharply from 96% in September to 68% currently.

Cardano price fell to $0.6065 on October 30 following a hawkish Federal Reserve rate cut. The ADA token has dropped 40 percent from its August peak. Technical indicators and declining ETF prospects suggest further losses ahead.

Cardano Price Shows Bearish Technical Patterns

The daily chart reveals Cardano price has declined from $1.0196 in August to $0.6065 today. The token recently broke below the critical support level of $0.6858. This level represented the August low and served as key support.

ADA has formed a death cross pattern on its chart. This occurs when the 50-day EMA crosses below the 200-day EMA. The previous death cross led to double-digit percentage losses for the token.

Multiple bearish formations have appeared on the price chart. The Cardano price has developed a head-and-shoulders pattern, which typically signals a downward movement. A bearish flag pattern has also formed on the chart.

The token now trades below the Supertrend indicator. It approaches the ultimate support of the Murrey Math Lines. These technical factors point to continued weakness in price action.

Analysts project Cardano price could fall to $0.50 in 2025. This target sits approximately 20 percent below current levels. The $0.50 level matches the extreme oversold zone from July.

However, a move above $0.6858 would change the outlook. Breaking this resistance could invalidate the bearish forecast. The next upside target would be $0.9765 if bulls regain control.

Grayscale submitted the only ETF application for Cardano despite its $24 billion market cap. XRP and Solana have attracted over nine applications each. This disparity highlights reduced institutional interest in ADA products.

Polymarket data shows that ETF approval odds have fallen to 68%. These odds stood at 96 percent in September. The decline represents a sharp reversal in market sentiment.

Solana and Hedera ETF products began trading this week. Cardano remains without approved investment vehicles. Grayscale’s application could still receive approval before the end of the year.

Ecosystem Concerns Limit Institutional Interest

Cardano’s ecosystem lacks the activity seen on competing blockchains. The network holds less than $300 million in total value locked. Solana, BSC, and Ethereum maintain significantly larger ecosystems.

Issuers cite ecosystem concerns when avoiding Cardano ETF applications. The limited DeFi activity reduces institutional appeal. This factor contributes to the single ETF application status.

The token is currently trading below multiple technical resistance levels. Market participants closely monitor the $0.6858 level. A sustained move below $0.50 would mark new multi-month lows for Cardano price.

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