Cardano's ADA has experienced a significant downturn since its December 2024 peak above $1.30, falling to approximately $0.66 as of early May 2025—a 45% decline from its recent high. Technical analysis from a prominent analyst suggests that ADA failed to break key resistance and may drop up to 18% further, potentially reaching support at $0.63 or even $0.54 if downward pressure persists.
However, whale investors accumulated over 410 million ADA in April (valued around $270 million), hinting at restored confidence and a possible price reversal. The accumulation stands in contrast to prior sell-offs seen earlier in the year. Market observers note that increased whale holdings tend to inspire smaller investors to join, introducing new capital to Cardano's ecosystem. Additionally, ADA's Relative Strength Index (RSI) is hovering just above the 30 mark, typically considered to signal oversold conditions and the potential for a bullish rally.
While short-term analysis suggests continued bearish momentum, key indicators like whale accumulation and the RSI point to a possible future recovery.
