Cardano Price Plummets as Bearish Momentum Intensifies, Whales Accumulate
1min read Cardano's price is currently under significant selling pressure, trading within a descending triangle pattern, which is often associated with bearish momentum. The altcoin has been struggling to maintain key resistance levels, showing signs of consolidation near a critical support zone. As bearish sentiment intensifies, traders are closely monitoring the price action to determine whether ADA will break below or attempt a recovery.
Analyst winghaven Crypto has noted that Cardano broke below a symmetrical triangle on the 4-hour chart, confirming a bearish trend. This breakdown suggests that selling momentum is increasing, pushing ADA toward lower support levels. The current market structure indicates a continuation of downward pressure unless buyers step in to defend key price zones.
The immediate resistance level for Cardano is at $0.85, where previous price rejections have occurred. If ADA fails to reclaim this level, the probability of further declines increases. On the downside, support is identified at $0.76, a level that has held firm in recent sessions. A failure to maintain this support could open the door for a deeper decline toward $0.68, a level that aligns with previous demand zones.
Despite the bearish outlook, Cardano whales have been aggressively accumulating, adding 420 million ADA since the announcement about the US Crypto Reserve, including altcoins like XRP, ADA, and SOL. Analysts believe that if bullish momentum sustains, ADA price could rally toward $12, marking a long-term breakout.
A sustained move above the $0.85–$0.90 range could signal a potential shift in momentum, possibly reversing the bearish outlook. If Cardano price manages to break above this resistance, it could regain bullish strength and attract renewed buying interest. However, the downward-sloping trendline continues to act as a strong barrier, limiting upward movement.
In contrast, if the current selling pressure persists, ADA may struggle to hold its support. A confirmed break below $0.76 would likely lead to additional downside moves, potentially testing $0.70 or lower. The declining trading volume further indicates weak buyer participation, which may hinder any immediate recovery efforts.
Analyst Ali Martinez has also provided insights into the current Cardano price action. According to his latest analysis, ADA is consolidating within a descending triangle pattern, which is often 