Cardano’s ADA Falls to $0.615 as Market Sell-Off Erodes Key Support

Cardano’s ADA Slips Below $0.620 as Downtrend Extends, But Traders Eye Signs of Stabilization

Cardano’s ADA token continued its slide on Monday, dropping 5.35% over the past 24 hours to trade at $0.6154 by the afternoon session. The decline follows persistent bearish momentum, with ADA steadily breaking through multiple support levels after a sharp sell-off that began around 22:00 UTC on June 16. Despite an earlier attempt at recovery, downward pressure has kept the market cautious heading into Tuesday.

The latest pullback reflects broader risk-off sentiment across crypto markets as macroeconomic uncertainty persists. Trade tensions and tightening monetary policy in major economies have contributed to selling pressure on digital assets, pulling down ADA along with other large-cap tokens.

Still, technical signals suggest potential for stabilization. ADA briefly rebounded from $0.622 to $0.626 earlier in Monday’s session, forming a modest upward-sloping channel. The token tested the $0.624–$0.625 zone multiple times, hinting that the area could serve as a near-term pivot. However, volumes have since diminished, and volatility has compressed, pointing toward a consolidation phase rather than a decisive reversal.

Traders are now closely monitoring whether ADA can maintain support in the $0.615–$0.620 region. A clearer directional move may hinge on broader market conditions and whether confidence returns to digital asset markets in the coming sessions.

Technical Overview

Sell-off intensified at 22:00 UTC on June 16 as ADA dropped below $0.650 on high volume.
Repeated attempts to reclaim $0.630 failed, creating resistance around $0.640.
Lower highs across rebounds confirmed sustained selling pressure.
Support developed in the $0.620–$0.622 zone, accompanied by rising volume during tests.
A descending channel formed with consistent lower highs and lows.
A brief rally lifted ADA from $0.622 to $0.626, forming an upward-sloping micro channel.
Resistance has emerged at $0.626, while the $0.624–$0.625 zone remains a key pivot.
Lower volatility and volume in recent candles suggest consolidation near current lows.

With ADA hovering just above recent lows, the market’s focus is firmly on whether this emerging support can hold—or if further declines are on the horizon.