Cardano price today is trading around $0.83, holding just above key support after a week of selling that pushed the token below $0.85. The market has been consolidating inside a wide symmetrical pattern, with repeated failures to break higher adding to bearish caution.

Despite this weakness, sentiment received a boost after Grayscale filed for a Cardano ETF, alongside Polkadot, sparking renewed debate on institutional adoption of altcoins. Still, persistent exchange outflows and lack of follow-through from buyers have kept ADA pinned near the lower band of its structure.

As August closes, traders face a market divided: ETF-driven optimism on one side, and weak on-chain flows on the other. The next decisive move hinges on whether bulls can reclaim resistance near $0.86–$0.88 or if bears push ADA toward the deeper $0.80 and $0.75 zones.

ADA Price Pressured as Support Levels Narrow

On the 4-hour chart, ADA price remains capped by descending trendline resistance, with supply zones layered around $0.86–$0.90. The 20- and 50-period EMAs at $0.84 and $0.86 continue to suppress upside momentum, while the 100- and 200-perio…

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