Cardano (ADA) was trading near $0.27 at the time of reporting, according to crypto.news price data.
Summary
- Ali says Cardano’s SuperTrend has flipped bullish after previously timing a 73% price decline.
- Santiment data shows wallets holding at least 1 million ADA now control 25.09 billion tokens.
- RSI and MACD suggest ADA momentum is improving, but $0.25 remains the key support.
The token’s price fell by 2.47% in the last 24 hours, trading between $0.27 and $0.28 during that period.
The total value of ADA is around $9.81 billion, and roughly $427.57 million worth of it was traded in the last day. Over the past month, its value has increased by 10.15%, though it’s still down 66.97% from a year ago.
SuperTrend flips after long decline
According to crypto analyst Ali Martinez, Cardano might be poised for a price increase. He points to a recent ‘buy’ signal from the SuperTrend indicator on its daily chart. Interestingly, the same indicator previously signaled a sell-off in September 2023, which was followed by a 73% drop in price.
Ali believes the recent price change could signal that the downward trend is over. He’s looking for the price to potentially reach $0.33, and if it gains enough traction, possibly even $0.42. However, he thinks this positive outlook will only hold if the price remains above $0.25.
RSI and MACD show mixed strength
ADA is currently trading slightly above $0.25, a key price level. The Relative Strength Index (RSI) is at 53.66, with its signal line around 58.12. This indicates positive momentum, staying above the 50 level which suggests neither strong buying nor selling, but it isn’t yet showing signs of being overbought.
The MACD indicator is still showing positive momentum. The MACD line is currently around 0.0055, and the signal line is near 0.0045. The histogram, which measures the difference between the two lines, is at 0.0009, indicating buyers are still in control, though the strength of this buying pressure is decreasing.
Whales continue to accumulate
According to Santiment, large Cardano (ADA) holders – those with at least 1 million ADA tokens – currently control 25.09 billion ADA, which represents 67.47% of the total ADA in circulation. These holders have been steadily increasing their holdings since December 2023.
As an analyst, I’m seeing some interesting activity with Cardano (ADA). Despite a significant drop in its market capitalization – around 71% over the last nine months – data from Santiment indicates that large ADA holders are actually continuing to accumulate the asset at these lower price points. This suggests they still have confidence in its long-term potential.
Cardano recently showed signs of a potential price increase, breaking out of a falling wedge pattern and aiming for around $0.32. The price had also moved above its 20, 50, and 100-day moving averages, suggesting positive momentum. However, a key resistance level still exists around the 200-day moving average, near $0.35.
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2026-05-14 11:28