Cardano (ADA) attempted to stabilize on Tuesday after a sharp sell-off, recovering roughly 4% from a local low of $0.1717 to trade near $0.1785, according to CoinGecko and TradingView data. The token is up about 0.68% on the day but remains down roughly 5% over the past week and almost 30% from its October highs near $0.27–$0.28.
Analyst More Crypto Online warned that the correction may not be finished. On a 4-hour chart, ADA is still inside a descending channel and has not broken its sequence of lower highs and lower lows. The analyst is watching a Fibonacci support zone between approximately $0.1617 and $0.1824. The upper boundary is the 61.8% retracement, while the lower level is the 78.6% retracement. “The micro structure of this correction is not very clear, but another low still looks likely,” More Crypto Online said, adding that there is no bottom signal yet.
Key technical levels include immediate support at $0.175–$0.18 and resistance near $0.20–$0.205. A daily close below $0.175 would open the door to $0.16–$0.165 and then $0.15, with the June low at $0.1381 as a deeper bearish target. The RSI sits at 33.77, below the neutral 50, while the MACD remains negative with a histogram of -0.00067, suggesting selling pressure may be leveling off.
On the network side, Cardano launched CIP-113 programmable tokens on mainnet in October, enabling transfer limits and identity checks for native assets. Work continues on the Dijkstra upgrade and node version 11.2 to expand Plutus smart contract features. Cardano has also advanced its ICANN application for the .ada domain. Meanwhile, Grayscale withdrew its proposed spot Cardano ETF in August; the registration had not taken effect and no shares were issued. DeFi data for November 10 shows about 24,177 transactions and 15,658 active addresses in 24 hours, total value locked near $50 million, and seven-day DEX volume up 17.55% to $8.95 million.
