Cardano Prediction for Mar 10: ADA Stuck Below $0.296 Resistance as Weak Network Activity Raises Concerns

Cardano remains below key resistance as limited DeFi activity and slower ecosystem growth raise momentum concerns.

Cardano (ADA) trades near $0.2616, posting a 1.79% daily gain and showing a gradual upward trend on the intraday chart. The price repeatedly rebounded from the $0.253–$0.256 support zone, suggesting buyers stepped in to defend this level during short-term pullbacks.

This behavior indicates mild accumulation, as traders pushed the price back toward the $0.262 area after several brief dips. Despite this short-term strength, broader performance remains weak, with ADA down 5.65% in the past week and 44.43% over the last 90 days. 

In the near term, the $0.255 level acts as key support, while a move above $0.265–$0.27 could signal stronger recovery momentum if buying pressure continues. Where’s ADA headed?

Cardano Price Analysis

The daily chart from TradingView shows Cardano trying to recover after a downtrend over the weekend. ADA is now trading below the recent SAR resistance near $0.296, indicating that buyers still need stronger momentum to confirm a sustained recovery.

Meanwhile, the Bull Bear Power indicator remains negative at -0.011, showing that sellers still maintain a marginal advantage despite occasional bullish spikes. The histogram has gradually moved closer to the zero line compared with the deeper negative readings from early February, indicating that selling pressure may be easing. 

If BBP crosses into positive territory while price breaks above the $0.28–$0.30 resistance zone, it could signal strengthening bullish momentum. Until then, the indicators suggest ADA is attempting to stabilize, with the market transitioning from strong bearish pressure toward a possible accumulation phase.

Here’s Why Cardano Remains Stuck

Elsewhere, crypto analyst Ali Martinez warns that $0.245 remains the critical support level for Cardano. According to Martinez, a decisive break below this threshold could accelerate selling pressure and open the door to significantly lower targets. 

He suggests that if the support fails to hold, ADA could slide toward $0.112 or even $0.051, implying a potential 50% to 80% decline from the $0.245 zone.

Additionally, in his thread, Martinez highlighted concerns about limited on-chain activity within the Cardano ecosystem. He noted that although ADA ranks among the largest cryptos by market cap, the total value locked in its DeFi ecosystem has never exceeded $1 billion, according to DefiLlama. 

This suggests that much of the asset’s valuation may still rely on speculative demand rather than sustained network usage. Martinez added that Cardano continues to face strong competition from other networks, while its late introduction of smart contracts in 2021 allowed rival ecosystems more time to build stronger developer adoption and network effects.