Cardano’s native token, ADA, has experienced a sharp decline, dropping 7.53% in the last 24 hours to $0.912, according to CoinMarketCap. This marks a significant pullback for the altcoin, which has lost 17% over the past month. With a market capitalization of $32.06 billion, ADA maintains its position as the ninth-largest cryptocurrency. Its 24-hour trading volume is $941.99 million, reflecting a 30% drop in trading activity.
Source: CoinMarketCap
After reaching a daily high of $0.9856, ADA fell to a low of $0.91, failing to sustain support levels. The token’s inability to hold above critical price points has left traders questioning its near-term trajectory.
Also Read: Charles Hoskinson Addresses Allegations on Cardano’s ADA Holdings and Stablecoin Integration
ADA’s Resistance Levels and Whale Activity
According to analyst Ali Martinez, ADA whales have recently accumulated significant amounts of the token, increasing buying pressure. However for a bullish breakout to occur ADA needs to move and cross above $1 with the initial ascending resistance at $1.10. After this, the next main level of resistance is at $1.50.
However, he added if ADA breaks above $1.50, a massive bullish trend which may take ADA to new highs may occur. However, existing market trends indicate that the upward trajectory may be gradual sometimes coming across some humps if not given a push by large whales.
Source: Tradingview
ADA’s Resistance Levels and Whale Activity
According to analyst Ali Martinez, ADA whales have recently accumulated significant amounts of the token, increasing buying pressure. The token has since dropped to the middle part of the Bollinger Band chart translating to increased selling pressure.
Further, the Relative Strength Index (RSI) today is 47.10 indicating that the bearish sentiment dominates ADA’s price. Specifically, an RSI below 50 usually indicates a higher probability of further decline and therefore a short-term bounce looks impossible without the appearance of double-occurrence of a bullish signal.
Implications for ADA’s Market Performance
The continued decline in ADA’s price highlights the challenging environment for altcoins amid broader market volatility. The failure to maintain support above $1 may lead to further decreases unless bulls regain control. Analysts point to $0.90 as a critical support level, with any breach likely accelerating the sell-off.
As traders watch for signs of recovery, ADA’s ability to break above key resistance levels will determine its direction in the coming days. A potential reversal remains possible with whales actively accumulating, though sustained upward movement will depend on broader market sentiment.
Conclusion
ADA’s recent decline below $1 underscores the challenges facing the cryptocurrency as it struggles to regain bullish momentum. While technical indicators point to increased selling pressure, whale activity may provide a glimmer of hope for recovery. However, without a break above $1.10, the token’s path forward remains uncertain.
Also Read: Cardano (ADA) Price Prediction 2025-2029: Will ADA Price Reach $3.5 Soon?
