"ADA Plunges: Whales Dump 170M Tokens, Bearish Outlook Looms"

Cardano (ADA) Price Prediction for February 28

Cardano (ADA), the native token of the Cardano blockchain, is currently facing a bearish outlook due to recent whale activity and the bearish price action it has formed on the daily timeframe. As of February 27, 2025, ADA is trading near the $0.65 level and has experienced a modest price drop of 0.85% in the past 24 hours. However, its trading volume has declined by 5.5%, indicating lower participation from traders and investors.

According to expert technical analysis, ADA appears bearish as it has breached and closed a daily candle below the $0.65 mark. If the asset remains below the $0.68 level and further closes a daily candle below the $0.63 mark, there is a strong possibility that it could drop by 30% to reach the $0.425 level in the future. The ongoing market decline has also caused ADA's price to drop below the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating that the asset is in a downtrend.

Adding to the bearish outlook, a prominent crypto expert shared a post on X (formerly Twitter), highlighting that crypto whales have sold over 170 million ADA tokens in the past 96 hours. This further supports the bearish sentiment surrounding the asset. With this bearish outlook and overall weak market sentiment, ADA's futures open interest (OI) continues to decline. Data from Coinglass shows that since the inauguration of U.S. pro-crypto President Donald Trump, ADA's futures open interest has dropped significantly from $1.48 billion to $542.4 million, signaling declining trader confidence.