Cardano’s cryptocurrency has dropped 13% in the last month, mirroring the current downturn affecting the broader crypto market.
However, the recent whale behavior suggests that a rebound could be on the way.
Something We Don’t Know?
Cardano (ADA) is currently trading around $0.24, according to CoinGecko. Its market value has dropped below $9 billion, causing it to fall from a top 10 cryptocurrency to 15th place.
Despite recent price drops, major investors seem to see this as a good time to buy. Analyst Ali Martinez reported that these investors have purchased $53 million worth of tokens in just the last week, bringing their total holdings to nearly 13.84 billion tokens – about 37% of all tokens currently available.
This recent surge in buying from large investors could inspire smaller investors to follow suit and invest more money. These large investors, often called ‘whales,’ are typically seasoned and may have advance knowledge of events that could affect the cryptocurrency’s price.
Earlier this month, analyst Martinez highlighted $0.245 as an important support level for ADA. The price had been around $0.25, and Martinez pointed out that similar levels in the past have often been followed by significant price increases of 85% and even 200%. Another crypto enthusiast, ALTS GEMS Alets, also believes the price has hit its lowest point and could potentially rise above $0.60 in the coming months.
Cardano’s (ADA) technical indicators suggest the price could soon increase. Its Relative Strength Index (RSI) recently fell below 30 on a weekly chart, which usually means an asset is undervalued and might be about to rebound. Conversely, an RSI above 70 would typically signal that an asset is overbought and likely to decline.
Recent exchange data also suggests ADA prices might soon recover. More investors have been moving their ADA off of exchanges and taking control of their coins themselves, rather than leaving them on centralized platforms. This decrease in coins available for sale should ease selling pressure in the short term.
ADA Going to Zero?
Even though many analysts are optimistic and see positive signs, some people watching the market are still doubtful and even negative about cryptocurrency.
One X user, gnarleyquinn, predicted that Cardano’s blockchain will likely become worthless in the next few years, pointing to its decreasing share of the market. In 2021, Cardano controlled around 4.5% of the market, but now that number has fallen to just 0.3%.
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2026-03-31 19:48