Biggest Movers: ADA Hits All-Time Low on Friday, MATIC Extends Recent Downtrend
Cardano fell to an all-time low on Friday, as sentiment in crypto markets remained bearish in today’s session. The token fell for a third consecutive day, with prices moving below a key price floor in the process. Polygo...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Cardano fell to an all-time low on Friday, as sentiment in crypto markets remained bearish in today’s session. The token fell for a third consecutive day, with prices moving below a key price floor in the process. Polygon also extended recent declines, hitting a multi-week low as a result.
Cardano (ADA)
Cardano (ADA) hit an all-time low in today’s session, as sentiment in cryptocurrency markets remains bearish, following recent economic data.
ADA/USD dropped to an intraday low of $0.2845 earlier in today’s session, less than a day after trading at $0.3026.
Today’s sell-off comes as cardano fell for a third straight session, breaking out of a key support point in the process.
Looking at the chart, the aforementioned floor is at the $0.3000 mark, which was broken once before, on November 21.
The 14-day relative strength index (RSI) also moved below a floor of 35.50, and as of writing is tracking at 30.91.
This is the lowest point the index has hit since October 22, with prices hitting a bottom of $0.3100 on that occasion.
Polygon (MATIC) was another notable token to fall today, with prices also moving lower for a third straight day.
Following a high of $0.891 on Thursday, MATIC/USD dropped to a bottom of $0.8483 earlier in the day.
As a result of this drop, polygon moved to its lowest point since November 30, when prices hit a bottom of $0.837
MATIC has since rebounded from earlier lows, and is currently trading at $0.8569, which is still nearly 4% lower than Thursday’s floor.
This slight rebound comes as the RSI rejected a breakout of a point of support at the 43.00 level, and the index is currently at the 44.26 mark.
Historically, bulls have used this floor as a point of reentry, and should this reoccur, then we could see MATIC move back towards the $0.90 level.
Register your email here to get weekly price analysis updates sent to your inbox:
What other factors are behind today’s decline in crypto prices? Let us know your thoughts in the comments.
Why this matters
This altcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin NewsRelated market context
XRP rebounded as Binance spot turnover fell nearly 80%
XRP futures exposure began rebuilding by October 11 after market-data provider XRPL.to recorded $40.70 million in long liquidation...
Anthropic’s Claude AI Predicts a Wild Price for Chainlink (LINK)
Anthropic’s Claude AI predicts that in a peak bull-market setup, Chainlink (LINK) could hit $150–$250 by January 1, 2027, with a s...
Meta AI Predicts 7-Figure BTC in 2026, But How?
Mark Zuckerberg’s Meta AI predicts that if a full-blown crypto bull market returns in Q4 and a landmark catalyst turbocharges it,...
Robbers Tied up a UK Crypto Trader at Knifepoint and Took $800K
A UK-based crypto trader says intruders taped him up, held him at knifepoint, and robbed him of $800,000 on Monday night. The wall...
Bitcoin options price a quiet CPI week while shorts cluster at $76,000–$80,000
Bitcoin options expiring Friday carry substantial put exposure below the market price, while short-term volatility pricing has fal...
Tom Lee’s Bitmine Nears 5% of Ether Supply, Trims Weekly Buy to 12,532 ETH
Bitmine Immersion Technologies (NYSE: BMNR) held 6,028,946 ETH as of Oct. 11, the Ethereum treasury company said in a press releas...