Cardano (ADA) has continued its bearish trend, extending its death cross streak to 25 consecutive days. The persistent downtrend has weighed heavily on the coin’s price, which has dropped by 16.09% over the last 30 days. Despite several attempts to recover, ADA has struggled to reverse the downward momentum. The death cross appeared on Cardano’s daily chart on May 24, 2025, when the token traded around $0.7593.

Since that technical signal, ADA has consistently posted lower lows, deepening the bearish outlook. Over the past seven days alone, Cardano’s value plunged by 15.3%, underscoring the severity of the ongoing decline.

Price Slips Below Key Resistance

At the time of writing, Cardano trades at $0.6047 down 2.86% in the past 24 hours. The price continues to face resistance near the $0.70 level, a zone it has failed to breach multiple times. Without sufficient momentum to break above this barrier, investors remain hesitant to commit long-term. As a result, many traders currently view ADA as a short-term play rather than a long-term hold.

_{Source: CoinMarketCap}

Trading activity has also dropped, with volume falling by 18.22% to $596.59 million. This decline reflects weakening investor confidence, as the market sentiment remains bearish. Despite the recent boost in on-chain activity, ADA’s price has yet to respond positively.

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Interestingly, Cardano has seen increased engagement in staking pools and higher staking rewards, indicating robust network usage. In terms of blockchain activity and social engagement, ADA remains near the top. However, these positive developments have not managed to lift the coin’s market value.

ETF Approval Odds Offer a Glimmer of Hope

On a more optimistic note, a recent Bloomberg forecast suggests that Cardano stands a 75% chance of receiving ETF approval from the U.S. Securities and Exchange Commission (SEC). 

Related article: Charles Hoskinson Defends $100M ADA-to-Stablecoin Plan Amid Community Concerns Over Market Impact

While this news has not yet impacted the price, it could serve as a future catalyst. Market participants are now watching closely to see whether such institutional support can help ADA break free from its prolonged death cross phase.