- Cardano is a cryptocurrency that has been gaining in popularity. [ADA] A strong trend line with an upwards slope has been known to trigger price reversals
- ADA’s volume of large transactions dropped by 8%, indicating a decline in whale participation
A massive crypto hack of $1.4 billion targeting Bybit has made the last 24 hours critical for cryptocurrency. The overall crypto market has been affected by this heist. ADA, the native token for the ADA platform is still not available. Cardano The blockchain has been fairly stable and is holding up above the critical support that the trendline provides.
Current price momentum
ADA traded at around $0.76 during this time period.
Despite the decline and negative sentiment, however, its trading volume surged by 50% – A sign of heightened participation from traders and investors, compared to the previous day.
The price of everything
ADA, thanks to its price decline, fell below the trendline support, which has been ascending since beginning February 2025.
Cardano’s chart showed that the trendline had a history of inducing price reversals. For example – Over the last 20 days alone, whenever the asset’s price reached the trendline, it consistently saw some upside momentum.
TradingView
The historical trend shows that there is a lot of interest from traders and investors in the token. The majority of traders and investors are anticipating ADA to continue its upward trend on charts.
AMBCrypto’s technical analysis shows that the following: Cardano The price is forming a triangle pattern with an upward trend. Along with the upward trendline as support, the asset also has horizontal support near the $0.745 mark.
It is important to note that, given the uncertainty of the market, it’s difficult to predict whether prices will rise or fall.
Price prediction and technical analysis
At the time of writing, the asset’s Average Directional Index (ADX) stood at 16 – Indicating weak strength, which may be contributing to the altcoin’s slower price recovery. Also, on the 4-hour time frame the asset is still below the 200-EMA (Exponential Moving Average).
Considering all these factors, if ADA is able to hold above the $0.745 level, it has a high chance of soaring by 10 percent and reaching $0.85. In the event that it is unable to hold this level, and closes four-hour candle at or below $0.74 in coming days, then it will likely decline 10%.
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Look at the inflows & outflows
All these factors have left investors and holders of long-term positions in a confused state. According to the on-chain analysis firm Coinglass, some people are selling tokens while others are buying them.
Data from inflows/outflows on spot revealed that exchanges had seen inflows in ADA of up to $7.35million following the heist. As the asset remained steady, however, exchanges saw a later outflow of 6.50 million ADA tokens, indicating possible accumulation. Inflows and withdrawals occurred within 12 hours of the Bybit Hack.
Coinglass
On the contrary, data from on-chain analytics firm IntoTheBlock revealed that ADA’s large transaction volume dropped by 8% – A sign of reduced whale participation amid market uncertainty.
The key price to monitor is $0.74. On-chain metrics are mixed and ADA remains at a support level. This zone is a good indicator of the next big move for ADA.
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Source: ambcrypto.com
