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Cardano price dropped sharply over the past 24 hours, falling 8.07% to around $0.255 after losing the key $0.26 level. The decline erased some of ADA’s recent gains even as whale activity reached its highest level in months.
The broader cryptocurrency market fell 2.59%, with total market capitalization slipping to $2.85 trillion amid macro-driven deleveraging. Rising oil prices, higher U.S. Treasury yields and a stronger dollar pressured risk assets. Bitcoin dropped below $84,000, Ethereum traded under $2,620 and XRP slipped beneath $1.50.
Despite the latest Cardano price decline, ADA remains significantly above its September lows. The cryptocurrency has gained roughly 42% since September 16 after recovering from around $0.19.
Santiment data showed a notable increase in large Cardano transactions. Wallet transfers worth at least $100,000 reached 413 in a single day, the highest level since June 4. ADA’s social dominance also climbed to 1.16%, its strongest reading this year, suggesting increased attention from crypto traders.
Cardano ecosystem developments have also supported investor interest. RealFi went live on the Cardano mainnet on October 1, while traders are watching the anticipated Leios upgrade, Fireblocks integration and potential institutional partnerships in financial services. However, sustained on-chain activity will be important for determining whether ADA can maintain its longer-term recovery.
Cardano was trading around $0.2549 at the time of reporting after failing to hold recent gains above $0.28. The $0.25 level now represents critical support. A decisive breakdown could expose ADA to a decline toward $0.22.
Technical indicators currently favor a cautious outlook. The Relative Strength Index stood at 44, below its moving average of 60.26. Meanwhile, the MACD remained below its signal line with a negative histogram, indicating weakening momentum.
For Cardano price to regain bullish momentum, ADA needs to reclaim $0.26. A sustained move above that level could bring $0.27 and $0.28 back into focus. Breaking above $0.28 could then clear a path toward the closely watched $0.30 target.
