Cardano Battles to Defend $0.28—A Break Could Trigger a Plunge to $0.24

▲ Cardano (ADA)

Cardano (ADA) is facing a decisive battle at the psychological support level of $0.28.

According to cryptocurrency media outlet U.Today on February 16 (local time), Cardano has recently come under threat at the key $0.28 price level amid the broader downturn in the crypto market. This level has served as a strong support line over the past several months, but with buying momentum weakening sharply, it is now at risk of breaking down.

Technical analysis suggests that if the $0.28 level collapses, the next major support is likely to be around $0.24. U.Today warned that if Cardano fails to rebound from the current range, additional capital outflows could accelerate its decline. In particular, Bitcoin’s failure to establish stability above $70,000 has rapidly cooled market sentiment, exerting significant downward pressure on Cardano’s price.

Cardano’s trading volume is also a cause for concern. Although the price remains near the support level, strong buy orders defending the zone have not been observed. This suggests that investors are no longer viewing the current price range as a buying opportunity but are instead staying on the sidelines, wary of further declines. Low trading volume indicates a fragile state in which even modest selling pressure could push the price sharply lower.

Major technical indicators, including the Relative Strength Index (RSI), remain in bearish territory, offering little sign of an imminent reversal. Cardano has surrendered significant value from its highs and continues in a downward trend, with the struggle at the $0.28 level likely to serve as a critical turning point for its mid- to long-term trajectory. Market participants are closely watching whether the price can defend this zone and establish a bottom.

Ultimately, Cardano’s next move is expected to depend on the broader cryptocurrency market’s ability to regain resilience. Analysts widely believe that unless major assets led by Bitcoin stabilize, it will be difficult for altcoins like Cardano to stage an independent rebound. If the final stronghold at $0.28 fails to hold, a contraction in investor sentiment across the entire Cardano ecosystem may be inevitable.

Disclaimer: This article is for investment reference purposes only, and no responsibility is taken for any investment losses resulting from its use. The content should be interpreted solely for informational purposes.