- Cardano ($ADA) has experienced a significant downturn, with its price dropping 34% over the past month and 15% in the last week, currently trading below the $1 mark.
- Technical indicators, such as the Average Directional Index (ADX) rising to 46.8, suggest a strong bearish trend, indicating that selling pressure remains dominant.
- A notable decline in whale activity has been observed, with the number of addresses holding between 1 million and 10 million ADA decreasing from 2,477 to 2,454 since February 21, reaching the lowest count since January 9.
Cardano ($ADA) has been on a rough slide, losing 34% in the last month and 15% this past week alone. With its market cap now at $22 billion, ADA has been stuck under the $1 mark for over a month, reflecting a persistent bearish grip on the asset.
Technical indicators paint a concerning picture—the ADX is climbing, signaling that selling pressure remains dominant. However, if key support levels hold, there’s a chance for a March turnaround.
Cardano ADX Confirms a Strong Downtrend
Right now, ADA’s ADX is at 46.8, a sharp jump from 10.3 on February 23. The Average Directional Index (ADX)measures trend strength, but not direction.
- ADX below 20? Weak or non-trending market.
- ADX above 25? Strong trend.
- ADX over 40? Very strong trend—momentum is real.
With ADA’s ADX soaring past 46, coupled with its price in a downtrend, it suggests bears are in full control. Unless buying interest ramps up fast, further downside seems more likely.
Cardano Whales Drop to Lowest Levels Since January
Big money is stepping away from ADA—a troubling sign. The number of whale addresses (holding between 1M and 10M ADA) has dropped from 2,477 on February 21 to 2,454 now—the lowest count since January 9.
Tracking whale activity is crucial, as their movements can dictate market liquidity and overall sentiment.
- Fewer whales? Signals reduced confidence and potential selling pressure.
- More whales? Suggests accumulation and potential price support.
This declining whale activity could signal more downside, as big players distributing their holdings often trigger cascading sell-offs from smaller traders.
Will Cardano Reclaim $1 in March?
ADA’s EMA lines show a bearish setup, with short-term EMAs trending below long-term ones—a classic indicator of ongoing downward momentum.
- If the current downtrend intensifies, ADA could test the $0.50 support.
- Losing $0.50 could open the floodgates to a drop toward $0.32, its lowest level since November 2024.
On the flip side, if $0.50 holds, ADA could attempt a recovery:
- Breaking above $0.65 would be the first step.
- If momentum builds, $0.83 and $0.90 could come into play.
- A sustained rally above $1 could finally break the bearish grip for the first time since late January.
Final Thoughts—Critical Weeks Ahead for ADA
Right now, ADA is at a crossroads. If whale activity continues to decline and selling pressure remains high, expect more downside. But if buyers step in at key support levels, March could bring a much-needed turnaround.
Keep an eye on $0.50 and $0.65—those levels could determine ADA’s next big move.
