Cardano (ADA) Fights to Hold Critical Multi-Year Support Despite Whale Buying

Key Takeaways

• Cardano is currently priced at $0.2449, defending a crucial support zone dating back multiple years
• Futures market indicators reflect bearish positioning — declining open interest and negative funding rates
• Large holders added 270 million ADA tokens to their portfolios from Wednesday through Friday
• Cardano network engagement continues to languish with daily active users staying under 900
• Market analyst Ali Charts identifies $0.245 as the pivotal support threshold for ADA’s next move

Cardano (ADA) is currently changing hands at $0.2449, clinging to a support zone that has provided a floor since 2022. The token has shed approximately 6% in value over recent sessions, essentially erasing gains from an earlier weekly recovery attempt.

The overall trajectory has been lateral movement since February commenced. Selling pressure has controlled market dynamics this week, forcing ADA back toward the bottom boundary of its established trading range.

Cardano is presently positioned beneath both its 50-day and 100-day Exponential Moving Averages (EMAs). The Relative Strength Index (RSI) registers around 43 on the daily timeframe, beneath the neutral 50 threshold, indicating subdued bullish momentum.

The MACD indicator has retreated below its signal line in proximity to the zero mark. This confirms the absence of consistent buying activity and suggests ADA continues navigating a broader corrective pattern.

Futures Open Interest has contracted to $402.94 million, declining steadily since mid-March. This reduction indicates diminishing market participation and reinforces a cautious perspective for the immediate term.

The long-to-short ratio tracked by CoinGlass presently stands at 0.83, marking its lowest level in more than a month. A figure under 1 indicates more market participants are betting on downward price movement than upward.

Funding rates have also turned negative, currently at -0.0015%. This means short position holders are compensating long position holders to maintain their bets, signaling that pessimistic sentiment prevails in the derivatives space.

Large Holders Increase Positions at Support Zone

Contrary to the pessimistic signals from derivatives markets, blockchain data reveals a more complex narrative. Major holders controlling between 100,000 and 1 million ADA, along with those managing between 10 million and 100 million ADA, collectively acquired 270 million tokens from Wednesday to Friday.

Addresses holding 1 million to 10 million ADA reduced their holdings by approximately 20 million tokens during this same window, suggesting this category may have surrendered while bigger players seized the opportunity to buy lower.

CoinGlass metrics also reveal substantial buying support around $0.24, with the whale segment establishing $31 million in net long positions through Binance and OKX perpetual contracts. Spot market volumes, conversely, remain muted, potentially indicating that substantial buyers are still observing for bearish momentum to dissipate.

On-Chain Engagement Stays Depressed

Cardano’s blockchain engagement has remained lackluster throughout March. Daily active users have persisted below 900 since mid-December, significantly beneath the tens of thousands the network historically recorded.

Cardano address count has expanded modestly, from 4.3 million to 4.44 million, potentially reflecting accumulation at reduced price points during the consolidation period.

Critical Support and Resistance Zones

On the bearish side, initial support resides at $0.24. A confirmed daily close beneath that threshold would expose the $0.23–$0.22 zone. On the bullish front, initial resistance emerges at $0.27, with a more formidable barrier positioned near $0.30.

Market analyst Ali Charts highlighted $0.245 as the critical support threshold to monitor for ADA, corresponding closely with the current price action.