Cardano Slips Further as December Losses Deepen
Quick Take Summary is AI generated, newsroom reviewed. Cardano trades near $0.38, falling over 7% this week amid market-wide declines. A December 1 network outage and $7.98M in outflows have weakened confidence. Technicals show oversold RSI (35) and bottoming MACD, hinting at rebound potential. A bounce to $0.50 becomes likely if support holds and market sentiment improves.References X Post Reference
Cardano continues to slide as ADA extends its December downtrend, with the token trading near $0.38 after losing more than seven percent in the past week. The decline mirrors broader crypto market weakness triggered by Bitcoin’s pullback and increasing speculation that Japan may raise rates, which has forced leveraged traders to unwind positions across major altcoins. Cardano reacts sharply to macro pressure during periods of reduced liquidity, meaning the current decline reflects both global sentiment and ecosystem-specific issues.
Network Outage, Outflows, and Fading Momentum Add Pressure
On-chain signals amplify the bearish tone as Cardano experiences nearly eight million dollars in net outflows since mid-September. Investors continue to reduce exposure after a brief December 1 network outage that briefly disrupted transaction processing and triggered concerns about reliability.
Market momentum indicators point to weakening buyer conviction as daily trading volumes fall and short-term holders take profits amid increased volatility. These combined pressures create an environment where even mild market corrections accelerate ADA’s downside moves.
Oversold Signals Hint at a Potential Reversal Zone Ahead
Cardano now sits near a critical point where technical indicators begin suggesting seller exhaustion. The RSI drops to an oversold reading of thirty-five while the MACD histogram forms a bottoming structure that historically precedes short-term trend reversals. Analysts argue that if ADA sustains support at current levels, a relief bounce toward fifty cents becomes possible, especially as anticipation builds around the Midnight privacy sidechain launch. This upcoming upgrade could improve narrative strength and reinforce long-term ecosystem confidence if broader market conditions stabilize.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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