Cardano News Today: ADA's $0.60 Support in Peril as Whales Fuel Bearish Frenzy

Cardano (ADA) has fallen below $0.58 amid intensifying bearish pressure from large-scale whale sell-offs and declining trader sentiment, marking a 5% drop from recent levels, according to an FXStreet report. The token's price action reflects a broader market shift, with on-chain data and technical indicators suggesting further downside risks. Charles Hoskinson, Cardano's founder, has meanwhile attributed the project's struggles in decentralized finance (DeFi) to community shortcomings, adding to the narrative of near-term uncertainty.

Whale activity has been a primary driver of ADA's recent slump, according to a Coinotag report. Over the past 72 hours, wallets holding between 100 million and 1 billion ADA tokens offloaded more than 100 million units, exacerbating downward momentum. This mass distribution, coupled with a 25% drop in trading volume to $1.17 billion, has pushed ADA below its 200-day exponential moving average, a key bearish signal. Analysts note that such whale-driven selloffs often precede 10-15% price corrections, a pattern that could play out if support at $0.60 fails.

Technical indicators reinforce the bearish outlook. Cardano's Relative Strength Index (RSI) has fallen to 32, well below the neutral threshold of 50, while the Average Directional Index (ADX) at 43.21 confirms strong downward momentum. A break below $0.60 could trigger a cascade of stop-loss orders, potentially sending ADA to $0.515, a level aligned with Fibonacci retracement and volume profile analysis, according to a HokaNews report. On-chain metrics also show declining daily active addresses, dropping to 24,280 from 32,115 in late October, signaling waning network engagement (per FXStreet).

Trader sentiment has shifted decisively against ADA. Derivatives data from CoinGlass reveals a long-to-short ratio of 0.75, the lowest in a month, indicating more traders are betting on further declines. Short positions now outweigh longs by a margin of 2.8:1, with liquidations concentrated around $0.616 and $0.666. This imbalance suggests that any short-term rallies may face immediate resistance from profit-taking or leveraged shorts.

Hoskinson's recent comments have added to the bearish narrative. In a public statement, he criticized Cardano's community for inadequate participation in DeFi initiatives, calling it a "critical barrier" to growth. "The ecosystem's success hinges on developer and user adoption," he said, emphasizing that "passive waiting won't build the infrastructure we need." This admission comes as Cardano's total value locked (TVL) remains significantly lower than competitors like Solana and Ethereum, despite its academic-driven development model, as noted in a Coinotag analysis.

While the immediate outlook is bearish, long-term fundamentals remain intact. Cardano's market capitalization of $24.5 billion and ongoing upgrades, including the Hydra scaling solution, provide a foundation for future growth. However, analysts caution that the token must first navigate its current technical challenges. A sustained rebound above $0.66 could retest the $0.70 resistance, but such a move would require renewed buying momentum and positive catalysts, such as institutional adoption or ecosystem breakthroughs.

---

: Cardano (ADA) Poised for Breakout Toward $1.70 with x402 AI Integration https://en.coinotag.com/cardano-ada-poised-for-breakout-toward-1-70-with-x402-ai-integration/

Cardano Price Forecast: ADA slips below $0.58 as bearish momentum and trader short bets intensify https://www.fxstreet.com/cryptocurrencies/news/cardano-price-forecast-ada-slips-below-058-as-bearish-momentum-and-trader-short-bets-intensify-202511030510

Investors Panic as Cardano Price Falls Again - Is ADA... https://www.hokanews.com/2025/11/investors-panic-as-cardano-price-falls.html

Cardano ADA Faces Bearish Whale Pressure, Potential Drop to $0.515 If $0.60 Breaks https://en.coinotag.com/cardano-ada-faces-bearish-whale-pressure-potential-drop-to-0-515-if-0-60-breaks/