Holding Support at $0.66 After Recent Decline

TLDR

• ADA price is holding around $0.66 after declining from the $0.730 level
• Price is trading below $0.680 and the 100-hourly simple moving average
• Resistance levels are established at $0.6850 and $0.7090
• Large ADA transactions topped $9.12B in April 2025, suggesting whale accumulation
• Bitcoin OS enables bridgeless BTC transfers to Cardano, improving cross-chain functionality

Cardano’s price has been struggling to maintain upward momentum after falling from the $0.730 level. The cryptocurrency is currently hovering around $0.66, having formed a low at $0.6426 before attempting a recovery.

The price managed to break above a bearish trend line with resistance at $0.650 on the hourly chart. It also cleared the 23.6% Fibonacci retracement level of the recent decline from the $0.7298 swing high to the $0.6426 low.

However, buyers are facing serious resistance near the $0.6850 mark and the 50% Fibonacci retracement level of the recent decline. This resistance has limited further upward movement.

Currently, Cardano is trading below both the $0.680 level and the 100-hourly simple moving average, which suggests bearish pressure remains.

The trading range has tightened between $0.6692 and $0.6936, reflecting a period of low volatility following the recent drops.

Technical indicators show mixed signals. The hourly MACD is losing momentum in the bullish zone, while the RSI remains above the 50 level.

On the upside, ADA faces key resistance at $0.680, followed by $0.6850. A stronger barrier exists at $0.7090, which if broken could trigger a rally toward $0.730 or even $0.750.

Should the price fail to overcome the $0.6850 resistance, another decline might occur. Immediate support can be found near $0.6630, with major support at $0.6500.

Whale Activity Increases

On-chain data reveals an interesting development – large transaction volumes increased sharply during April 2025. According to blockchain metrics, transactions exceeding $100,000 rose before ADA reached the $0.90 to $1.00 range.

These large movements, typically associated with institutional investors and whales, reached $9.12 billion in December 2024 before dropping to $7.46 billion by April 2025.

Such whale activity often signals potential accumulation phases during price weakness. Historical patterns show that similar spikes in large transactions have preceded strong price rallies in previous cycles.

The cryptocurrency has been testing the $0.58-$0.62 support zone multiple times since March 2025, with buyers consistently defending this area.

Chart patterns reveal consistent rebounds from the lower boundary of a long-term descending channel, a technical structure traders watch for potential breakout setups.

Volume spikes on green candles hint at rising buying interest despite limited price action. Some analysts have noted signs of hidden bullish divergence developing.

In a major technological development, Bitcoin OS developers successfully transferred Bitcoin to a Cardano wallet and back without using bridges or third-party services.

This breakthrough allows Bitcoin to be used across blockchains while maintaining control of private keys, potentially supporting new decentralized applications on Cardano.

The bridgeless transfer process could expand Cardano’s role in blockchain interoperability and drive developer interest, especially for decentralized identity and governance systems.

The price has maintained above the midline Fibonacci retracement level of 0.618, near $0.739, which continues to serve as a reference point for traders.

Technical momentum indicators such as MACD and RSI remain neutral, with traders closely watching for any shift in these metrics.

Analysts are now monitoring several key resistance levels at $0.70, $0.78, and $0.88, with potential for a move toward $1.00 if ADA breaks above the descending trendline.

Current Cardano price is holding at $0.66, with the next major test being whether it can overcome resistance at $0.6850.