Cardano (ADA) Price Update

Cardano (ADA) is down more than 6% on Thursday but remains up nearly 40% over the past seven days. After surging to $1.15 following its inclusion in the US crypto strategic reserve, ADA has struggled to stay above $1 in recent days.

Some users are questioning its inclusion in the reserve, raising price concerns. With whale accumulation slowing and resistance at $1 proving difficult to break, ADA’s next move will depend on whether bullish momentum can return or if selling pressure pushes it lower.

ADA ADX Indicates Strong Uptrend But Weakening Momentum

Cardano has an ADX of 32.5, down from 43.7 three days ago, following a price surge driven by ADA’s inclusion in the US crypto strategic reserve.

Despite the decline in ADX, it remains above the 25 threshold, indicating that the ongoing uptrend still has strength, though momentum has slightly weakened.

The Average Directional Index (ADX) measures trend strength on a scale from 0 to 100, with readings above 25 signaling a strong trend and below 20 suggesting weak momentum. With ADA in an uptrend and ADX at 32.5, the trend remains intact but may be losing strength.

If ADX continues to decline, the trend could slow down or consolidate. However, a stabilization or rise in ADX might help ADA maintain its upward trajectory and push toward new resistance levels.

Decline in Cardano Whale Accumulation

The number of Cardano whales—addresses holding between 1 million and 10 million ADA—has slightly decreased in the past few days after a strong increase earlier this month. The count now stands at 2,463, indicating that some large holders have reduced their positions.

Tracking these whales is crucial, as large holders can influence market liquidity, volatility, and price trends. A rising number of whales usually indicates accumulation, potentially driving prices higher, while a decline suggests profit-taking or reduced confidence.

With the current whale count down from its recent surge, ADA’s latest uptrend may slow if large holders continue selling. An increase in accumulation, however, could support continued price gains.

Will Cardano Test $1 Soon?

Cardano’s EMA lines indicate a bullish trend, with short-term EMAs above long-term ones. However, despite this positive setup, ADA has struggled to break above $1 following a substantial correction after its 71% surge on March 2.

If the current uptrend reverses, ADA could test support at $0.818, with a break below that potentially leading to $0.75. A stronger sell-off might push the price as low as $0.63 or even $0.58.

Conversely, if ADA regains momentum, it could test $1 again, and a breakout above this key resistance could send the price toward $1.17, a level nearly reached during the March 2 surge.