Dow Jones Industrial Average and the S&amp;P 500 opened lower as U.S. stocks slipped again on Tuesday, May 6 amid ongoing tariff uncertainty. S&amp;P 500 slid 0.8%, while Dow Jones Industrial Average futures dropped more than 300 points, or roughly…

Dow, S&P 500 slip amid ongoing market uncertainty

Bitcoin ETFs opened the week strong with a $425 million net inflow, entirely 
driven by Blackrock’s IBIT. Ether ETFs stayed quiet, recording no activity for 
the day. Blackrock&#8217;s IBIT Powers $425 Million Bitcoin ETF Inflow As Ether ETFs 
Stay Flat Bitcoin ETFs wasted no time setting the tone for the new week. 
Fueled solely by […]

Bitcoin ETFs Start the Week With $425 Million Inflow

Crypto markets have fallen below the $3 trillion mark, as traders struggle 
with macroeconomic uncertainty.

Why is the crypto market down today?

SOL Strategies, a Canadian publicly traded company focused on supporting the 
Solana blockchain ecosystem, has expanded its holdings with a new $20 million 
Solana purchase. The Canada-listed company announced the move on Tuesday, May 
6, disclosing the completion of the…

Canada-listed SOL Strategies buys more Solana

Cardano (ADA) is trading at a critical juncture after several days of sideways 
consolidation around the $0.70 level. While bulls have attempted to defend 
this zone, upward momentum has faded, and selling pressure is beginning to 
mount. The market appears hesitant, with traders uncertain about the next 
directional move amid growing volatility across the crypto space. Related 
Reading: Ethereum Breaks Massive Downtrend Price Structure – Momentum Shift? 
Crypto analyst Ali Martinez recently shared a technical analysis indicating 
that Cardano has been rejected at the top of its descending channel. This key 
resistance trendline has capped multiple rally attempts in recent months. This 
rejection suggests that ADA may be poised for another leg down, especially if 
broader market sentiment continues to weaken. If the current pressure persists 
and bulls fail to reclaim higher levels, Cardano could be on track to retest 
lower support zones. With momentum fading and technical rejection in play, the 
coming days could determine whether Cardano stabilizes or faces deeper 
downside in the short term. Traders and investors are advised to watch closely 
as ADA teeters on the edge of a potential breakdown. Cardano Faces Pullback 
After Rallying 40% From April Lows Cardano is trading at its lowest level in 
two weeks, following a failed attempt to reclaim higher supply zones near the 
top of its descending channel. After gaining over 40% from its early April 
lows, ADA showed strong signs of a potential trend reversal. However, recent 
price action has stalled, and the altcoin now finds itself under renewed 
selling pressure as broader market uncertainty weighs on momentum. Martinez 
highlighted that Cardano was recently rejected at the upper boundary of its 
descending channel—a technical level that has acted as resistance for months. 
This rejection has opened the door to a possible move lower, with downside 
targets at $0.63 and $0.54 if bearish pressure continues to mount. These 
levels coincide with previous demand zones and could serve as critical support 
for a potential rebound. Despite the short-term weakness, Cardano’s longer- 
term setup still holds promise. The sharp recovery in April demonstrated 
strong interest from buyers, and if ADA can reclaim resistance near 
$0.75–$0.80, the rally could quickly regain traction. Until then, the market 
remains in a wait-and-see mode. Meanwhile, macroeconomic tensions—from global 
trade disputes to uncertainty over US monetary policy—continue to drive 
volatility across financial markets. The entire crypto sector is currently 
ranging below key resistance levels, and Cardano is no exception. For now, ADA 
traders are watching closely to see whether the current pullback leads to 
deeper losses or offers a new entry point ahead of the next leg up. The next 
few days will be pivotal in defining the direction of Cardano’s price action. 
Related Reading: Avalanche Bounces Off Key Price Level: Top Indicator Flashes 
A Buy Signal ADA Price Analysis: Testing Crucial Demand Cardano is currently 
trading at $0.6563, marking its lowest level in two weeks and signaling 
growing bearish momentum. After consolidating near $0.70, the price failed to 
reclaim the 200-day EMA at $0.7101 and remains well below the 200-day SMA at 
$0.7797. This rejection from both long-term moving averages reflects weak 
bullish conviction and confirms that ADA is still trading within a broader 
downtrend. Volume has remained relatively flat during the recent dip, 
suggesting a lack of strong buyer support at current levels. The price 
structure also shows ADA struggling to establish higher lows, which raises the 
risk of a deeper retracement. If selling pressure continues, ADA could move 
toward the next key support around $0.63. A breakdown below that level could 
expose the market to further downside toward $0.54, aligning with the lower 
boundary of the descending channel identified by analysts like Ali Martinez. 
Related Reading: Ethereum Tests Critical Range: Breakout Or Breakdown? To 
regain bullish momentum, Cardano must break back above $0.70 and hold it as 
support. Until that happens, the bias remains to the downside. For now, 
traders should closely monitor volume shifts and broader market sentiment, as 
ADA teeters on the edge of a potential breakdown within its long-term bearish 
structure. Featured image from Dall-E, chart from TradingView

Cardano Struggles At Resistance – Expert Sees A Retest of Lower Support Levels

The cryptocurrency has been gradually gaining market share over altcoins with 
bitcoin dominance now at its highest level in more than four years. BTC Price 
Steady at $94K but Market Dominance Climbs Over 65% Bitcoin ( BTC) now 
accounts for more than 65% of the entire $2.93 trillion crypto market, the 
highest level of bitcoin […]