- Cardano tests $0.2760 as Coinbase expands DeFi loans to include ADA collateral with up to $100K borrowing limits.
- Price breaks below Supertrend at $0.3257 and SAR at $0.2455 after 71% correction from September highs above $0.95.
- Analysts warn Cardano remains “ghost chain” with only 63 dApps and $85M TVL despite $9.5B market cap.
Cardano price today trades near $0.2760, up 0.95% in the past 24 hours as the token attempts to stabilize after breaking below critical support levels. The move comes as Coinbase announced it will accept ADA as collateral for onchain loans, though analysts warn that fundamental adoption metrics remain weak despite the integration.
Coinbase Adds ADA As Loan Collateral Via Morpho Protocol
Coinbase expanded its on-chain loans product offered via DeFi protocol Morpho, adding XRP, Dogecoin, Cardano, and Litecoin as eligible collateral. The expansion allows eligible U.S. customers, excluding New York, to borrow up to $100,000 in USDC by pledging ADA without selling their holdings.
“No matter what you’re holding, you should be able to leverage your crypto without having to sell,” Jacob Frantz, product lead at Coinbase, told The Block. The loans are enabled by the Morpho lending protocol on Base, with Coinbase providing the user interface. Coinbase charges a one-time fee each time a customer borrows, applied to the loan principal.
The product has seen over $1.9 billion in loan originations since launching last year with Bitcoin and Ether support. Adding ADA as collateral expands access to Cardano holders seeking liquidity without triggering taxable events. However, the announcement has done little to reverse ADA’s 71% decline from September highs above $0.95.
Ghost Chain Concerns Undermine Fundamental Case
Despite the Coinbase integration, analysts warn Cardano remains a “ghost chain” with weak adoption metrics. The network’s DeFi ecosystem contains only 63 dApps, most of which are largely inactive. Total value locked stands at roughly $85 million, a fraction of competitors like Solana and Ethereum.
Cardano has failed to attract major developers even after Pyth Network, a top oracle, joined the network late last year. The same pattern appears in other key areas like real-world asset tokenization and stablecoins, where other chains have captured market share.
Developers hope the upcoming Midnight mainnet launch will accelerate growth by adding privacy features. However, Ethereum is working to incorporate privacy natively, which could capture Midnight’s target market before it launches. Additionally, many new chains have emerged with initial momentum only to fade.
Price Breaks Below Supertrend And Descending Trendline
ADA Price Dynamics (Source: TradingView)On the daily chart, Cardano has broken below the Supertrend at $0.3257 and trades just above the Parabolic SAR at $0.2455. The descending trendline from September remains intact, capping every rally attempt over the past five months.
The chart shows:
- Supertrend bearish at $0.3257, confirming sellers control momentum
- SAR support at $0.2455 as critical demand zone
- Descending trendline capping rallies since September
- $0.24 psychological support as next major level
Cardano dropped from above $0.95 in September to a low near $0.24 in February, marking a 75% correction. The current consolidation near $0.2760 represents a 15% bounce from those lows, but the structure remains decisively bearish. Breaking below $0.2455 would flip the SAR and expose the $0.24 psychological support.
A daily close above $0.3257 would flip the Supertrend and signal the first major shift in momentum. Until that happens, each bounce represents a relief rally inside a broader corrective phase.
Descending Channel Guides Intraday Action
ADA Price Action (Source: TradingView)The 1-hour chart shows Cardano trapped inside a descending channel pattern with resistance near $0.2800 and support at $0.2720. RSI sits at 45.71, neutral but declining as price gives back gains from earlier in the session. MACD remains negative with all lines converging near zero.
The structure shows:
- Descending channel pattern since mid-February
- Lower highs forming at channel resistance
- RSI neutral, showing no strong directional bias
Buyers are attempting to defend the lower channel boundary near $0.2720. A breakdown below this level would trigger another leg down toward $0.2650 and eventually retest the $0.2455 SAR support. A breakout above $0.2800 would place $0.2850 back in range and signal the first attempt to break the channel pattern.
The tight range reflects market indecision as traders weigh the Coinbase integration against weak adoption fundamentals. Without a catalyst to shift sentiment, the path of least resistance remains lower.
Outlook: Will Cardano Go Up?
The next move depends on whether ADA can hold $0.2720 and break above the descending channel resistance at $0.2800.
- Bullish case: A close above $0.2800 with volume would break the channel and place $0.2850 in range. Reclaiming $0.3257 flips the Supertrend and confirms trend reversal toward the Midnight mainnet launch.
- Bearish case: A breakdown below $0.2720 exposes $0.2650, with further downside toward $0.2455 if ghost chain concerns persist. Losing $0.2455 retests the $0.24 February lows.
Related: Espresso Price Prediction 2026–2030: Can Shared Sequencing Push ESP Toward $1.5?
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Source: https://coinedition.com/cardano-price-prediction-ada-drops-to-0-2760-despite-coinbase-loan-integration/
