Cardano Price Slides Below $0.70: Is the ADA Dip Far From Over Amid ETF Delay?

• Cardano drops below $0.70 support as technicals point to a possible move toward $0.60.
• ADA trading volume declined by more than 9%, and options trading declined by 93% in 24 hours.
• SEC delayed Cardano ETF’s decision to July 13, adding short-term pressure on ADA price.

Cardano (ADA) is trading below a significant support level, currently around $0.68. The token’s decline happened after its various attempts to maintain above $0.73 failed, marking a reversal from its brief recovery in early May. Technical indicators suggest that prices may continue to decline.

The daily chart shows ADA failing at major moving averages and breaking below the $0.70 psychological level. Analysts identify the $0.58–$0.65 region as the next likely support zone, using Fibonacci retracement levels and historical reaction points. Unless the token reclaims $0.70 in the near term, traders may prepare for more short-term weakness.

Analyst Signals Normalcy in the Ongoing Dip

Crypto analyst Dan Gambardello shared a statement addressing the ongoing correction. In a recent post, he reassured Cardano holders that the dip “might not even be over…yet,” but called it a normal part of…

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