Cardano (ADA) price remains one of the top 10 cryptocurrencies by market cap, despite being down over 9% in the past seven days. Recent data suggests that ADA’s downtrend is losing momentum, with its ADX dropping sharply, indicating a weakening bearish trend.
Whale activity, which has stabilized since December 22, also suggests reduced selling pressure, pointing toward a consolidation phase. Traders are now closely monitoring the $0.859 support level, as its strength will determine whether ADA price can recover toward $1 or face further declines to $0.76.
ADA Downtrend Is Losing Its Steam
ADA Average Directional Index (ADX) is currently at 14.96, a sharp decline from over 30 just three days ago. This significant drop indicates a weakening trend strength, suggesting that the ongoing downtrend is losing momentum.
The steep decline in ADX highlights reduced conviction in the current bearish movement, which could lead to a period of price consolidation or even a potential reversal if buyers start to re-enter the market.
ADX measures the strength of a trend on a scale from 0 to 100, without indicating the trend’s direction. Values below 20 suggest a weak or nonexistent trend, while values above 25 typically signal a strong trend. With Cardano ADX at 14.96 and falling, the current downtrend lacks sufficient strength to sustain significant bearish momentum.
In the short term, this could mean ADA price may stabilize or move sideways unless renewed selling pressure emerges to reinforce the trend. Conversely, a lack of selling activity could allow buyers to regain control and initiate a potential recovery gradually.
Cardano Whales Stopped Selling
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Author: Tiago Amaral
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