Cardano's price is down 2.5% as of March 11, trading at $0.7250. This decline is attributed to bearish trends in the cryptocurrency market, including Bitcoin's drop of over 3.6% and Ether's decrease of 8.6%. The overall altcoin market has witnessed significant declines, with Cardano's price declining 41% over the past 90 days. Additionally, Cardano's network activity has weakened, with daily DEX trading volume falling by 67% and total value locked dropping sharply. This reduction in activity corresponds with a 10% price drop over the same period. Overbought conditions, indicated by a relative strength index (RSI) above 70, have also led to buyer exhaustion and a market correction. Short-term targets suggest further drops in price could occur, with potential support levels between $0.6472 and $0.5794. There are no immediate catalysts for recovery amid fears of a recession and broader market volatility, including declines in US equities.

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