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Cardano (ADA) has been trading below the $0.70 mark since March 29, struggling to regain bullish momentum. Despite brief signs of strength, recent indicators now point to weakening trend conditions.

Both the BBTrend and ADX show fading buying pressure, while EMA alignment remains bearish. With price stuck between key support and resistance levels, ADA’s next move could define its short-term direction.

Cardano BBTrend Turns Negative, Signaling Momentum Reversal

Cardano’s BBTrend has flipped negative, currently sitting at -0.78 after spending the last five days in positive territory. The indicator reached a peak of 9.76 on April 14, signaling strong bullish momentum at the time.

BBTrend, short for Bollinger Band Trend, measures the strength and direction of a price move relative to its Bollinger Bands.

Positive values typically indicate bullish trends, while negative values point to bearish conditions or weakening momentum.

The shift to -0.78 suggests that Cardano’s recent uptrend has lost strength and may be reversing. A negative BBTrend reading means the price is now moving closer to the lower band, often a sign of rising selling pressure.

While it doesn’t confirm a strong downtrend yet, this reversal could indicate the beginning of a broader consolidation or bearish phase unless momentum quickly recovers.

Traders may want to watch closely for follow-through or a bounce to assess ADA’s short-term direction.

Cardano Momentum Fades as ADX Crashes and Selling Pressure Rises

Cardano’s DMI chart shows a sharp drop in trend strength, with its ADX falling to 15.12 from 28.34 just two days ago.

The ADX (Average Directional Index) measures trend intensity—readings above 25 suggest a strong trend, while values below 20 indicate a weak or consolidating market.

The steep decline in the ADX signals that the momentum behind Cardano’s recent move is quickly fading.

At the same time, the +DI (bullish directional indicator) has dropped from 22.61 to 17.39, showing weakening buying pressure. Meanwhile, the -DI (bearish indicator) has risen from 10.5 to 14.95, pointing to a gradual increase in selling strength.

With both the ADX and +DI falling, and -DI climbing, the setup hints at a potential shift in favor of the bears.

Unless bullish momentum returns quickly, Cardano could enter a period of sideways movement or even a short-term downtrend.

Bearish Structure Still Dominates Cardano

Cardano’s EMA lines remain bearish, with short-term averages still positioned below the long-term ones—indicating that downward momentum is intact.

Cardano price is holding above a key support zone near $0.594, but if this level fails, it could trigger a deeper drop toward $0.511. This would confirm a continuation of the downtrend and reflect growing selling pressure.

However, if ADA manages to reverse its current momentum, the first major resistance lies at $0.64. A breakout above that level could open the door to further gains, with potential targets at $0.66 and $0.70.

If the uptrend strengthens, ADA could even rally toward $0.77, marking a more decisive recovery and trend shift.

The post Cardano (ADA) Might Turn Bearish As Price Struggles to Breach $0.70 appeared first on BeInCrypto.

Russia’s Ministry of Finance and Central Bank are teaming up to launch a centralized crypto exchange. This comes after successive attempts to force other exchanges out of the country.

This is just one step in Russia’s recent efforts to promote cryptocurrency as a tool to evade sanctions. Its government and business community have been espousing the practice, and Russia is considering a ruble-backed stablecoin.

Russia to Launch a Government-Backed Crypto Exchange

According to a report from local media, Russia’s government institutions have big plans for this centralized exchange. Initially, it will only be open to “super-qualified” investors.

This refers to investors who have 100 million rubles ($1.2 million) in securities and deposits or 50 million ($600,000) in annual income. These requirements are not final and may be changed after launch.

Anton Siluanov, Russia’s Minister of Finance, described the plan:

“Together with the Central Bank, we will launch a crypto exchange for super-qualified investors. Crypto assets will be legalized, and crypto operations will be brought out of the shadows. Naturally, not within our country, but those operations that have been carried out today within the framework of the experimental legal regime,” he said.

This exchange is part of Russia’s response to an international crypto crackdown. Specifically, private firms are being forced to leave the country.

Last month, Garantex, a Russian exchange, lost $28 million in assets when Tether froze them after US sanctions. The month prior, Deribit also left the country after sanctions from the EU.

Siluanov announced last December that the Russian government would use cryptocurrency to evade international sanctions, and private firms have embraced the practice.

At the last BRICS Summit, Russia advocated for this policy on the international stage, and it’s considering a Ruble-backed stablecoin.

By creating this exchange, Russia will have a platform to further intensify its crypto-based activities. According to the report, these “super investors” will be able to directly trade in cryptoassets, while retail traders will be restricted to various derivatives. This ties in with a recent three-year plan to test regulated crypto markets.

Russia’s crypto exchange is set to launch this year, but the government still needs to determine a few details. The regulatory framework for crypto derivatives is not entirely operational, and the plan has faced some pushback from the nation’s financial community.

The post Russia’s Central Bank and Finance Ministry is Launching a Crypto Exchange appeared first on BeInCrypto.