ADA Token Drops 3% as Bearish Momentum Prevails Despite New Binance Trading Pair and $470M Volume

ADAUSDT experienced a 3.04% price decrease over the past 24 hours, currently trading at 0.3599 USDT on Binance. The downward movement is primarily attributed to persistent bearish sentiment and selling pressure as Cardano hovered near the $0.37 support, with technical indicators highlighting a mature downtrend and the RSI signaling strong bearish momentum. While there were positive developments, such as the introduction of the ADA/USD1 trading pair on Binance and ongoing cross-chain collaboration with Solana, these factors did not offset the prevailing negative market trend. Cardano’s trading volume remains substantial, with recent figures near $470 million, and the asset maintains a market capitalization around $13.01 billion, ranking within the top 12 cryptocurrencies. Despite notable support in the $0.36 to $0.37 range, the current market outlook remains cautious pending a decisive move above resistance levels.