- On the price charts, Cardano [ADA ($0.77)] fell to an ascending trendline with a strong history of triggering price reversals
- ADA’s large transactions volume dropped by 8%, hinting at a fall in whale participation
The last 24 hours have been critical for the cryptocurrency industry due to a massive $1.4 billion crypto hack targeting Bybit. This heist has affected the overall cryptocurrency market. And yet, ADA the native token of the Cardano blockchain, has remained fairly stable, holding above the crucial support provided by the ascending trendline.
Current price momentum
During this period, the altcoin registered a price drop of 4%, with ADA trading near $0.76 at press time.
Despite the decline and negative sentiment, however, its trading volume surged by 50% – A sign of heightened participation from traders and investors, compared to the previous day.
All about its price action
Thanks to the aforementioned price drop, ADA fell to the support level of an ascending trendline, which it has followed since the beginning of February 2025.
Cardano’s four-hour chart revealed that this trendline has a strong history of triggering price reversals. For example – Over the last 20 days alone, whenever the asset’s price reached the trendline, it cons…
