Cardano (ADA) Price: Bears Stay in Control as Whales Begin to Accumulate

TLDR

• ADA is trading at $0.2449, sitting on a key multi-year support level
• Derivatives data shows bearish sentiment — open interest falling, funding rates negative
• Whales accumulated 270 million ADA tokens between Wednesday and Friday
• Daily active users on the Cardano network remain below 900, far off historical highs
• Analyst Ali Charts has flagged $0.245 as the critical support level to watch

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Cardano (ADA) is trading at $0.2449 as of writing, struggling to hold a support level that stretches back to 2022. The price has fallen nearly 6% in recent days, nearly wiping out a recovery that had started earlier this week.

Cardano (ADA) Price

The broader trend has been sideways since February. Bears have dominated price action this week, pushing ADA back toward the lower end of its recent range.

ADA is currently trading below both its 50-day and 100-day Exponential Moving Averages (EMAs). The Relative Strength Index (RSI) is sitting near 43 on the daily chart, below the 50 midline, which points to weak upside momentum.

The MACD has slipped back below its signal line near the zero level. This reinforces the lack of any sustained buying pressure and suggests ADA remains in a broader corrective phase.

Futures Open Interest has dropped to $402.94 million and has been falling since mid-March. This decline signals fewer active participants in the market and supports a cautious near-term outlook.

The long-to-short ratio on CoinGlass currently reads 0.83, its lowest in over a month. A reading below 1 means more traders are positioned for the price to fall than rise.

Funding rates have also flipped negative, sitting at -0.0015%. This means short traders are paying longs to hold their positions, a sign that bearish sentiment is currently dominant in the futures market.

Whale Activity Picks Up Near Key Support

Despite the bearish signals in derivatives, on-chain data tells a more nuanced story. Whales holding between 100,000 and 1 million ADA, and those holding between 10 million and 100 million ADA, accumulated a combined 270 million tokens between Wednesday and Friday.

Source: Santiment

Wallets in the 1 million to 10 million ADA range shed around 20 million tokens during the same period, suggesting this group may have capitulated while larger holders bought the dip.

CoinGlass data also shows a solid buy wall near $0.24, with the whale cohort executing $31 million in net long positions across Binance and OKX perpetual markets. Spot volumes, however, remain low, which may indicate that larger buyers are still waiting for bearish momentum to clear.

Network Activity Remains Subdued

Cardano’s network activity has remained weak throughout March. Daily active users have stayed below 900 since mid-December, well below the tens of thousands the network previously averaged.

Source: Artemis

Cardano holders have grown slightly, from 4.3 million to 4.44 million, which could reflect accumulation at discounted prices during the consolidation phase.

Key Price Levels to Watch

On the downside, the first support sits at $0.24. A daily close below that would open the door to $0.23–$0.22. On the upside, the first resistance is at $0.27, followed by a stronger barrier near $0.30.

Analyst Ali Charts flagged $0.245 as the key support level to watch for ADA, aligning closely with where the price currently trades.

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