Cardano has fallen 5.7% over the past seven days to trade near $0.181 on Nov. 9, as a rebound from recent lows leaves ADA below its daily trend indicators and an analyst’s $0.19 invalidation level.
Summary
- Cardano remains lower over seven days despite recovering toward $0.181 during Monday’s trading.
- Daily RSI stands at 35.85, while ADA trades below its $0.1965 Bollinger midpoint.
- Analyst Mr Brownstone identifies $0.19 as the invalidation level for his bearish scenario.
- Cardano’s development update confirms DijkstraNet progress, with full Linear Leios still undergoing testing.
CoinGecko placed ADA near $0.181, with a modest 0.2% gain over 24 hours, approximately $246 million in daily trading volume and a market capitalization of $6.8 billion.
Binance’s ADA/USDT daily chart showed Cardano trading at $0.1814 at 14:50 UTC on Monday, up 3.48% from its opening price of $0.1752 after recovering from a session low of $0.1714. The daily candle measures performance from the session’s opening, while CoinGecko tracks a rolling 24-hour period.
Cardano’s daily rebound remains below $0.1965
On the TradingView daily chart, ADA remained beneath the middle Bollinger Band at $0.1965, with the upper band at $0.2219 and the lower band at $0.1711.
Monday’s low came close to that lower boundary before buyers pushed the price back above $0.18. Even after the recovery, ADA stood approximately 8.3% below the midpoint, calculated from the displayed $0.1814 price.
The daily Relative Strength Index registered 35.85, above its signal average of 33.46 but below the neutral 50 level. Although momentum had improved from the session’s low, the reading remained above the conventional oversold threshold of 30.
The chart shows a succession of lower prices following the early-October recovery toward $0.28. Monday’s advance therefore sits within a decline lasting several weeks, with the Bollinger midpoint still above the market.
Earlier selling had already carried ADA through levels highlighted in October. On Oct. 21, crypto.news previously reported that analyst Ali Martinez identified a conditional $0.17 target if daily support around $0.21 failed. Monday’s displayed low of $0.1714 approached that earlier projection.
Weekly moving averages remain above ADA
The weekly TradingView chart placed ADA at $0.1815, beneath all four displayed simple moving averages.
The 20-week average stood at $0.2030, followed by the 50-week average at $0.2480. Farther above price, the 100-week and 200-week averages registered $0.4976 and $0.4661, respectively.
Measured against $0.1815, reaching the 20-week average would require an advance of approximately 11.8%. The distance to the 50-week average was roughly 36.6%, showing how far the price remained below those longer observation periods.
Weekly Chaikin Money Flow, however, registered a positive 0.05. Its position above zero contrasted with the weak price structure, providing a more positive volume-weighted reading without a corresponding recovery above the weekly averages.
The weekly candle was still developing, with more than six days remaining. Its 3.54% gain measured the move from the current week’s opening price, separate from ADA’s negative rolling seven-day performance.
Analyst sets $0.19 invalidation as liquidation bands sit overhead
In a Nov. 9 post on X, market commentator Mr Brownstone outlined the possibility of another decline before the completion of a multi-year pattern.
“With $0.19 invalidation, I am looking for this multi-year conclusion in a rapid descent from current levels,” he wrote.
His accompanying chart labeled a lower region as a long-term buying zone. His forecast remained conditional on the $0.19 invalidation level, approximately 4.7% above ADA’s daily chart price of $0.1814.
CoinGlass’s one-month liquidation heatmap showed ADA retreating from above $0.25 in October toward $0.18 in November. Prominent estimated liquidation concentrations remained overhead around $0.233 and $0.24, with another visible band near $0.26.
CoinGlass’s heatmap maps estimated liquidation exposure across price levels, without specifying the total value of positions liquidated during the latest decline.
DijkstraNet advances while Leios remains in testing
Intersect’s Nov. 6 update said DijkstraNet completed its move to protocol version 12 on Nov. 2 at 00:00 UTC using node 11.2.
The organization listed node 11.1.3 as the recommended release for mainnet, Preview, and Preprod. Node 11.2 remained a prerelease without mainnet clearance, while version 11.3, combining Dijkstra features with Linear Leios, was estimated to be at least two to three weeks away.
In U.S. investment disclosures, a September prospectus supplement for the T. Rowe Price Active Crypto ETF listed ADA among eligible assets. Its benchmark table assigned Cardano a 2.63% weight as of Aug. 31; benchmark composition and asset eligibility do not establish the fund’s actual ADA holdings.
