The Cardano price today is trading at $0.657, reflecting continued selling pressure after failing to reclaim the $0.68–$0.70 resistance band. Over the past 48 hours, ADA has gradually descended from the mid-$0.68s, signaling a loss of bullish control following its rejection at the 200-EMA on the 4-hour chart. This decline is closely aligned with the broader market’s pause, as traders now eye short-term support zones to gauge the next major move. Cardano price dynamics (Source: TradingView.) On the 4-hour timeframe, ADA remains trapped below all major exponential moving averages (20, 50, 100, 200), confirming a bearish short-term outlook. The Cardano price action has turned sideways-to-negative, with lower highs and lower lows since the beginning of May. The recent breakdown beneath the ascending trendline from April 21 now exposes ADA to further downside. Why Cardano (ADA) Price Going Down Today: Indicators Flash Bearish Momentum Cardano price dynamics (Source: TradingView.) ADA’s momentum indicators reinforce the bearish view. The Relative Strength Index (RSI) is hovering around 35, indicating persistent selling without yet reaching oversold extremes. Meanwhile, the MACD on the 4-hour chart is deep in the red zone with widening histogram bars, hinting at strengthening downside momentum. The Stochastic RSI is also parked in oversold territory (<20), though without a crossover, suggesting weakness may extend before a potential bounce. Adding to the caution, the Ichimoku Cloud shows ADA trending below the Kijun-sen and Tenkan-sen lines, with the price entering a thin but negative cloud span. This reinforces short-term bearish sentiment and raises red flags for bulls unless Cardano quickly reclaims the $0.672–$0.682 pivot area. Cardano price dynamics (Source: TradingView.) From a pattern perspective, the 30-minute and 4-hour charts reveal clear descending channels and failed breakout retests, keeping the pressure intact. The Cardano price volatility is tightening as the asset consolidates below resistance—often a precursor to directional expansion. Cardano (ADA) Price Prediction: Support Test Looms Near $0.644, Breakdown Risks Rise Cardano price dynamics (Source: TradingView.) If ADA loses the $0.644–$0.650 demand zone, which aligns with a horizontal base and the Bollinger Band’s lower bound, we could see accelerated losses toward $0.625 and possibly $0.60. The Fibonacci retracement from March’s swing low to April’s high also supports this view, placing the 0.618 level near $0.62. However, if Cardano price manages to defend the current support and produce a bullish divergence on RSI or MACD, a recovery toward $0.672 and $0.688 remains viable. Any break and close above $0.688 would then open room for retests of $0.70 and $0.726—zones that capped previous Cardano price spikes in April. The Cardano price update thus points to a narrow inflection zone. Bears dominate below $0.672, while bulls would need a clean close above $0.688 to flip the short-term bias. Until then, ADA’s price remains vulnerable to further weakness, especially if the broader crypto market lacks a fresh catalyst. Forecast Table: Cardano (ADA) May 7 Price Outlook Key Zone Level (USD) Comment Immediate Support 0.644–0.650 Breakdown target, Bollinger lower band Major Support 0.620 0.618 Fib retracement, weekly structure Resistance 1 0.672 20-EMA, breakdown origin Resistance 2 0.688 50-EMA, failed retest zone Resistance 3 0.726 April swing high RSI (4H) 35.17 Bearish but not fully oversold MACD (4H) Bearish cross Momentum in favor of bears Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.