Cardano Price Forecast: ADA Falls 4% as $0.1894 Support Faces Risk

Cardano (ADA) came under renewed selling pressure on Thursday, October 29, falling more than 4% and trading below $0.2000 as weakness spread across the cryptocurrency market. The decline followed the Federal Reserve’s decision to hold interest rates at 3.75%-4.00%, while derivatives data pointed to declining bullish positions. With ADA trading near $0.1970, investors are watching $0.1894 as the next major support level. A decisive break below that threshold could expose the token to further losses.

Cardano Selling Pressure Intensifies

The broader cryptocurrency market weakened as Bitcoin (BTC) fell below $80,000 and Ethereum (ETH) dropped under $2,300, according to the supplied market report. The Fed’s decision to maintain rates came with a warning that inflation remained elevated, leaving investors attentive to the outlook for monetary policy. The central bank’s official October 28 statement confirmed the decision by a 10-2 vote.

Data from CoinGlass showed approximately $338 million in cryptocurrency liquidations over 24 hours, including $186 million in liquidated long positions. For Cardano, liquidations reached $2.46 million, of which $2.05 million came from long positions. These forced closures can intensify selling when leveraged traders lack sufficient margin to maintain their trades.

ADA futures open interest, which measures the value of outstanding contracts, declined more than 5% to $438.16 million. The reported funding rate also turned negative at -0.0028%, suggesting a shift in derivatives positioning toward bearish expectations.

ADA Technical Indicators Signal Weakness

Cardano traded around $0.1970, extending its October decline to approximately 25%. The token remained below its 50-day exponential moving average (EMA) at $0.2223 and its 200-day EMA near $0.2407. These indicators track average prices while giving greater weight to recent trading, helping investors assess the prevailing trend.

ADA also broke below a rising support trendline in a roughly 6% decline on October 22, reinforcing the bearish technical structure.

Key levels traders are monitoring include:

• Immediate support: $0.1894, corresponding to the August 30 low.
• Next support: $0.1712, near the August 18 low.
• Deeper support: $0.1537, around the July 28 low.
• Initial resistance: $0.2223, near the broken trendline and 50-day EMA.
• Major resistance: $0.2408, close to the 200-day EMA.

The Relative Strength Index (RSI) stood near 32, approaching the commonly used oversold threshold of 30. Meanwhile, the Moving Average Convergence Divergence (MACD) remained below its signal line, indicating persistent downward momentum.

Cardano Price Forecast: What Comes Next?

The $0.1894 support level is central to Cardano’s near-term outlook. A sustained move below it could open the way toward $0.1712 and potentially $0.1537. However, a support break is not guaranteed, and buyers could attempt to stabilize prices near these levels.

On the upside, ADA would need to recover $0.2223 to ease immediate bearish pressure. A stronger recovery toward $0.2408 would provide additional evidence that selling momentum is weakening.

Conclusion:

Cardano remains under pressure as falling open interest, long liquidations and weak technical indicators point to a fragile market structure. Traders will watch whether ADA holds $0.1894 or breaks toward lower support levels. A sustained recovery above $0.2223 would help challenge the bearish outlook, although cryptocurrency prices remain volatile and technical levels are not guarantees of future performance.