Cardano’s ADA token has dropped 7% in a week, reaching a critical price level analysts describe as a “make-or-break” point at approximately $0.24. Market observers note this zone has historically been a pivotal support, with a breach potentially leading to a steep decline, while a successful defense could precede a significant rally. Additional data points to increased whale accumulation and oversold technical conditions.
Cardano’s native cryptocurrency ADA has plunged by 7% over the past week, ranking among the worst performers. The asset’s valuation has now returned to a critical level around $0.24.
Renowned analyst Ali Martinez argued this zone has historically been “the ultimate pivot point” and a launchpad for significant rebounds. He stated that holding this floor could open a path toward $0.30, while losing it might trigger a collapse toward $0.10.
Another observer, Celal Kucuker, claimed the mid to long-term chart looks perfect with a bull run target of $6.30. This view is supported by on-chain activity showing large investors are accumulating ADA.
The number of wallets holding over 10 million ADA has risen to a four-month high of 424. Large investors purchased 220 million coins in just one week prior to that.
Technical indicators also show ADA’s weekly Relative Strength Index (RSI) has fallen to around 30, signaling oversold conditions. X user Sssebi claimed this shows signs of bullish divergence and that “the bottom might be in or very close.”
Exchange data shows ADA netflows have been negative recently, indicating investors are moving tokens off trading platforms. This reduces immediate selling pressure, as holdings moved to self-custody are less likely to be sold quickly.
