Cardano Price Prediction as Bitcoin Crashes Below $70k

Cardano price is facing downward pressure, trading at $0.27 after falling more than 10% over the past week. Technical analysis suggests that while bearish momentum is fading, the coin is struggling to gain significant upward traction. 

The ADA price has just turned around lows of about $0.24, despite the overall decline in the market. The fall of Bitcoin below the major support mark of $70,000 has further intensified the uncertainty in the market.

Bitcoin Price Faces Crucial Support at $65K as Market Struggles

Bitcoin price has dropped by 2.01% in the last 24 hours, now sitting at $69,631. This fall has taken Bitcoin into a crucial demand zone around the $60,000 historically reactive level. The moods in the market are still wary, and this has increased the pressure on the sell-off.

The price action has also caused the market structure to break down as the major low of $75,000 was broken. This caused forced liquidation flows.

Should Bitcoin not overcome the $70,000-$70,500 resistance environment, it might re-test the swing low of $68, 000. Any fall below this could take Bitcoin even lower to support around $69, 000. 

The outflows in Bitcoin spot ETFs amounted to 318 million between February 2-6, and Ethereum spot ETFs experienced outflows of 166 million.

ADA’s Open Interest Collapse Signals Market Shift

Cardano’s (ADA) open interest has plummeted from $1.6B to $334M, but a notable shift in market dynamics is emerging. As of 2023, Binance controlled more than 80% of the open interest in ADA.

In 2026, Binance had reduced its share to only 22, and Gateio took over the top with 31. This trend is reflective of Solana, as decreasing Binance dominance resulted in price growth decelerating.

Cardano Price Prediction: Will ADA Break $0.35 Resistance or Dip Further?

The ADA price traded at $0.2684, making a slight increase of 0.19%.

The Relative Strength Index (RSI) stands at 45.69, meaning it is in a neutral position. The Chaikin Money Flow (CMF) too has been close to neutral at 0.04, indicating that selling and buying pressure are in equilibrium.

In the future, the future Cardano outlook has an immediate resistance of $0.30, and a break beyond this figure may cause a push up to $0.35. 

Conversely, below the ADA $0.25 support, the next major target is at $0.20, and the lower the price, the more risk of further downward movement is possible.