Cardano's native token, ADA, has slipped to $0.1727 as selling pressure persists, while the network's decentralized finance sector faces a widening liquidity gap against its incentive program's targets. The soft market picture emerged even as the Cardano Foundation gained entry into a Swiss financial association whose membership includes some of the world's largest banks.

Cardano Foundation Joins Swiss Financial Association

Analyst Lanais highlighted that the Cardano Foundation has joined the Capital Markets and Technology Association (CMTA) in Switzerland, a group whose members include UBS, Pictet and Lombard Odier (via X). According to Valentis, UBS alone manages more than $7.3 trillion in assets, placing the Foundation alongside established Swiss financial institutions.

Despite the institutional milestone, ADA's market performance remains weak. Valentis also noted that the token continues to trade inside a descending channel on the weekly chart. The institutional development comes as ADA faces continued selling pressure in the market.

DeFi TVL Falls as PRIME Targets Growth

Separately, Altcoin Buzz reported that Cardano's DeFi total value locked has slipped to $50 million. The figure stands well below the target of the network's PRIME program, which is backed by 120 million ADA and aims for $290 million. That leaves a $240 million gap between the current TVL and the program's goal.

Altcoin Buzz argued that incentives alone may not retain liquidity once rewards end. The outlet contended that Cardano needs decentralized applications that create genuine demand for capital before the PRIME incentives can durably expand the network's liquidity. The commentary placed the focus on sustained, app-driven activity rather than temporary, reward-driven deposits. As a result, the reported TVL relative to PRIME's target provides a separate measure of the network's current DeFi traction from the Foundation's institutional membership.

ADA Tests Support as Momentum Weakens

ADA has dropped from approximately $0.275 in early October to $0.1727 on November 9, forming a pattern of lower highs and lower lows during the decline. A rebound attempt toward $0.200 in early November failed, and the token was rejected again shortly afterward. The chart data was published on TradingView.

The latest candle opened at $0.1763, reached a high of $0.1773 and fell to close at $0.1727, a decline of $0.0037, or 2.10%, on trading volume of 12.1 million ADA.

Momentum indicators point to continued weakness. The RSI registered 28.79, below its 37.94 moving average, a reading that places ADA in oversold territory. The MACD line remained below its signal line, at -0.0036 versus -0.0029, with the histogram standing at -0.0006, sustaining the bearish technical signals.

Immediate support is located at $0.1700, followed by $0.1650 and $0.1600. Resistance levels stand at $0.1800, $0.1900 and $0.2000. These price levels, alongside the reported $50 million TVL and the PRIME program's $290 million target, are the key markers presented for tracking Cardano's market and DeFi position.