Cardano (ADA) has experienced mild turbulence over the past 24 hours, declining by 1.63% to trade at $0.8071. The once-promising momentum appears to be cooling off, as market activity declines amid cautious sentiment. Despite the minor setback, ADA remains among the top 10 cryptocurrencies, boasting a robust market capitalisation of $28.87 billion.

Short-Term Price Movements

Over the last day, ADA traded within a narrow range, fluctuating between $0.8031 (low) and $0.8453 (high). The price briefly climbed to around $0.84, but a wave of selling pressure pushed it back toward the $0.80 zone. The intraday chart shows alternating red and green movements, suggesting indecision between buyers and sellers. However, the current decline has reinforced short-term bearish control.

Related article: ADA Price Watch: Momentum Fades Below $0.80 — Will the Final Week of September Spark a Reversal?

The trading volume over the past 24 hours hit $1.12 billion, reflecting a 29.74% drop, signaling waning enthusiasm among traders. The volume-to-market-cap ratio of 3.87% supports this cooling sentiment, hinting that investors are waiting for stronger signals before re-entering.

Market Context and Technical Outlook

Cardano’s fully diluted valuation (FDV) stands at $36.26 billion, while its circulating supply of 35.82 billion ADA represents a significant share of its total supply of 45 billion ADA. This highlights that most of ADA’s tokens are already in circulation, providing a stable base but limiting sudden supply shocks.

_{24-hour price chart. Source: CoinMarketCap}

ADA remains far below its all-time high of $3.10 reached in September 2021, marking a 74% drop from that level. Yet, the long-term perspective still looks promising when compared to its all-time low of $0.01735 in 2017, showing a staggering 4,541% rise since inception.

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Cardano’s latest performance suggests the market is in a consolidation phase. The $0.80 support remains crucial if it holds, a rebound toward $0.84–$0.85 could emerge. A break below, however, might invite further correction. Investors are closely monitoring whether ADA can regain upward traction or if it will extend its sideways momentum into the weekend. Despite short-term headwinds, ADA’s long-term fundamentals and active ecosystem continue to anchor optimism. For now, patience and close observation appear to be the most effective strategies.