Cardano’s native token, ADA, continued its downward trend on June 28. The price decreased by 1.09% in 24 hours to $0.1452. ADA’s market value was recorded as $5.31 billion and its daily trading volume was $285.04 million.
Technical outlook remains weak
While the search for direction in the overall cryptocurrency market continues, ADA has not been able to break away from the long-established downward trend in wider time frames. This picture increased concerns about the possibility of a new retreat in the short term.
Evaluating on June 28, 2026, More Crypto Online states that the Cardano price continues to move in a significant downward formation in the upper time frames. According to the analyst, if the current wave count is maintained, the next critical support zone is located at approximately $0.092.
More Crypto Online points out that the outlook continues to favor the sellers unless ADA can break above important resistance levels.
Support and resistance levels are closely monitored for buying and selling decisions in the market. If ADA falls below the current support areas, selling pressure may accelerate. On the other hand, if buyers protect these areas, it may create a possible basis for recovery in the coming weeks.
Derivative data points to a cautious outlook
Derivative market indicators also support the cautious stance in the short term. Open position size decreased by 3.36% in the last 24 hours to $363.35 million. In the same period, derivative transaction volume decreased by 36.53% to $264.19 million.
The simultaneous decrease in these two data indicates that some participants in the market prefer to close their existing transactions instead of opening new positions. This shows that there is no strong confidence in the short-term direction.
Mini dictionary: Open position refers to the total of contracts that have not yet been closed in the futures market. Cost of carry shows the carrying cost of futures positions; Negative values may indicate that short positions are priced relatively more advantageously.
| Indicator | Current level | 24 hour change |
|---|---|---|
| ADA price | $0.1452 | -1.09% |
| open position | $363.35 million | -3.36% |
| Derivative trading volume | $264.19 million | -36.53% |
| Support watched by analyst | $0.092 | Specified critical level |
OI-weighted carrying cost also remained at minus 0.0220%. This data reflected that short positions in the futures markets maintained their advantage, albeit limited, and the presence of participants expecting pressure on the price in the near term.
The network is improving, the price does not find the same support
The Cardano network continues to advance in ecosystem developments and decentralized applications. As a smart contract-driven blockchain network, Cardano is known for its scalability and research-based development approach. Despite this, positive developments in the network were not reflected to the same extent in ADA price performance.
Despite technical advances in the ecosystem, the market is more focused on whether support levels can be maintained for ADA in the short term.
In the coming period, investors will watch whether ADA can hold on to the current support zones. Market sentiment and buying interest are expected to be decisive in the direction of the price. If the downward pressure continues, the $0.092 level can be watched more closely.
