Cardano (ADA) was trading near $0.1919 on Friday, October 30, holding just above the $0.1898 support level after breaking below a multi-month rising channel. ADA had climbed from a June low near $0.14 and traded within that channel until a rejection near $0.27–$0.28 in early October. The price subsequently formed lower highs and lost the channel’s lower boundary around $0.22.
Analyst Jesse Olson said on X that ADA had “hit all four targets to the downside,” adding that the reversal signs were visible and were flagged 22 days earlier. On Friday, ADA briefly dipped to $0.1819 before buyers pushed it back above $0.19. If $0.1898 holds, resistance sits at $0.20–$0.205 and then $0.215–$0.22, while a daily close below could expose $0.182, $0.17, $0.16 and eventually the June support near $0.14. Momentum indicators remain bearish: the Relative Strength Index is at 31.10 and MACD is negative.
Ethereum (ETH) dropped below $2,200, losing nearly 3% as investors assessed persistent US inflation and the likelihood of another Federal Reserve rate increase. September’s Personal Consumption Expenditures Price Index rose 0.5% month over month and 3.6% year over year, while core PCE increased 0.3% monthly and 3.1% annually. CME FedWatch figures showed an approximately 80% probability of a rate hike at the Fed’s December meeting after the Federal Reserve’s 10–2 decision to hold rates on Wednesday.
CryptoQuant data showed continued sell-side pressure in Ethereum’s Binance perpetual futures market, with the 30-day moving average of ETH Net Taker Volume at negative $117.3 million, improved from a four-month low of negative $166.6 million on October 16. US spot Ethereum ETFs recorded $21.4 million in net outflows on Wednesday and another $105.48 million on Thursday, extending withdrawals to four sessions. ETH liquidations reached $360.5 million over 24 hours, with longs accounting for about 84.7%.
The broader market was shaken by a Binance security breach that Reuters estimated at a $6.3 billion impact, including roughly $3 billion in affected assets frozen with help from industry partners. Binance said it would cover losses and the investigation continues. Bitcoin and Ethereum fell after the announcement. Cardano’s DeFi total value locked stood near $57.86 million, down 1.13%, while DEX volume over seven days fell about 19.2% and stablecoin market cap dropped 7.27% to $64.42 million.
Ethereum remains below its 20-day, 50-day, 100-day and 200-day exponential moving averages. The 200-day EMA near $2,310 is the first recovery level, followed by resistance at $2,355 and the 100-day EMA near $2,360. A daily close below $2,200 could bring $2,107 into focus, with deeper floors at $1,972 and $1,854. The RSI is at 29 and the Stochastic Oscillator at 14, suggesting selling momentum is stretched but not yet confirming a reversal.
