Cardano (ADA) faces critical test: Will support hold or price go lower?

After a modest rebound to around $0.28, Cardano (ADA) faces pressure from both market sentiment and technical levels. While the short-term gains over the past week and month offer a glimmer of hope, the broader trend tells a different story. Weak ecosystem metrics cast a shadow Cardano’s ecosystem fundamentals are currently a mixed bag. On one hand, the network continues to expand with cross-chain initiatives, and upcoming projects are aiming to expand functionality. On the other hand, adoption remains tepid, and market participation lags behind major competitors. On-chain data shows Cardano’s ecosystem activity has slowed. Cardano’s total value locked (TVL) in DeFi projects has declined sharply, reflecting reduced engagement. Stablecoin adoption on Cardano also remains low, and new developer activity…