ADA Token Drops 7.15% Amid Technical Signals Despite Strong NFT and DeFi Growth

Cardano (ADAUSDT) experienced a 7.15% price decrease over the last 24 hours, with the current price at $0.5586 on Binance. The decline follows technical signals such as the formation of a rising wedge pattern near resistance and confirmation of a "death cross" in late October, both indicating potential short-term bearish momentum. Despite positive ecosystem developments—including increased NFT trading volume, higher DeFi total value locked, and large holder accumulation—traders have responded to technical resistance and declining bullish volume, contributing to the recent price drop. ADAUSDT remains actively traded, with robust 24-hour volume and a market capitalization between $20.13 billion and $21.12 billion, positioning Cardano among the top 10 cryptocurrencies.