Sun Mar 02 15:40:00 UTC 2025: ## Cardano (ADA) Plummets 23% This Week, Faces Potential Double-Digit Further Decline

**NEW YORK** – The price of Cardano (ADA) continues its downward spiral, falling nearly 7% on Friday to trade around $0.60. This follows a significant 23% drop earlier this week, leaving investors concerned about further potential losses. Analysts point to several factors contributing to the decline.

Santiment data reveals a shrinking number of daily active addresses on the Cardano network, falling from 49,585 in early February to 24,609 on Friday. This decrease in network activity suggests declining demand and fuels bearish sentiment.

Technically, ADA faced rejection at its descending trendline on February 21st, triggering the current correction. The Relative Strength Index (RSI) currently sits at 28, indicating significant selling pressure. While this technically suggests a potential bounce, analysts caution that the RSI could remain below oversold levels, implying further correction.

If the downward trend persists, ADA could see an additional 16% decline, potentially retesting its February 3rd low of $0.50. The broader cryptocurrency market is also experiencing a downturn, with Bitcoin (BTC) falling over 15% this week, wiping out $660 billion in market capitalization and resulting in $3.68 billion in liquidations. Other major cryptocurrencies, including Ethereum (ETH) and Ripple (XRP), have experienced similar declines.

**Disclaimer:** *This news article is for informational purposes only and should not be considered investment advice. Investing in cryptocurrencies involves significant risk.*

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