Cardano (ADA) faced a challenging November, with the price declining over 31% according to BeInCrypto, or nearly 30% as reported by CaptainAltcoin, while Bitcoin and Ethereum recovered 6–8% in the same period. Over the past seven days, ADA gained only about 1.9%, showing minimal momentum.
Technical indicators signal deeper weakness: The Chaikin Money Flow (CMF), which reflects big money strength, broke below its descending trendline on November 28 after a similar pattern on November 2 led to a 20% drop. CMF remains under zero, indicating capital outflow. Concurrently, the Spent Coins Age Band jumped to 114.66 million ADA on November 29, a 23% increase from the monthly low, suggesting rising supply pressure.
Key price levels are critical: If ADA loses the $0.386 support, it could fall to $0.354 or $0.302. A recovery requires a clean break above $0.438 with a full candle close, potentially targeting $0.607, but this depends on CMF turning positive and spent-coin activity cooling.
Optimism emerges for December: Crypto expert Austin Hilton notes ADA is forming a potential bottom near the $0.414–$0.415 support zone, with resistance at $0.43–$0.44. Macro factors include the Federal Reserve ending quantitative tightening on December 1 and an 86% chance of a rate cut on December 10, which could boost risk assets. Sentiment is shifting after 18 straight days of 'extreme fear' in November, with Bitcoin already showing recovery signs.
