Cardano Breaks Below Key Support as Institutional Outflows Pressure Altcoins

Cardano’s native token ADA slid more than 3% over the past 24 hours, dropping to $0.64 as selling pressure intensified and institutional investors pared exposure to altcoins.

The decline accelerated late Tuesday, when trading volume surged 67% above its daily average, with roughly 183 million ADA traded. The breakdown below $0.645 marked a key technical breach, confirming a bearish shift in short-term market sentiment, according to CoinDesk Analytics.

Analysts attribute the move to a combination of ETF approval delays, broader risk-off positioning, and a rotation into more stable digital assets. Data from CoinShares showed ADA recorded $300,000 in weekly outflows, reversing the $3.7 million in inflows seen the previous week.

Technically, ADA now faces stiff resistance near $0.655, with a series of lower highs from the $0.6719 peak reinforcing the downtrend. Failure to regain that level could expose the token to another test of the $0.64 support, analysts said.

Across the broader crypto market, CoinDesk’s CD5 index fell 2% in the past 24 hours, highlighting persistent selling pressure as investors reassess risk heading into year-end.