Cardano Price Rebound? ADA Sees $29M Outflow, $10 Target Eye

Key Insights:

• Cardano Price could crash if it falls below the $0.80 level.
• China’s top AI model DeepSeek predicts ADA could reach $5–$10 during this bull run.
• $29 Million worth of ADA has been outflow from the exchanges, the highest in the past 2 months.

With a single big red god candle, the Cardano price erased last week’s gains and has reached a key level of $0.80. ADA’s daily chart shows a critical support level that could define its near-term path. Even a slight decline might trigger sharp selling, making this a pivotal moment for the asset.

Cardano price stands strong at $0.815 at press time, having slipped by over 8.50% in the past 24 hours. Due to high volatility and massive price fluctuations, investor and trader participation has plummeted. This led to a 20% drop in recorded trading volume.

On-Chain Metric Flashes Mixed Signal for Cardano Price

Amid this sharp fall, investors and long-term holders seized the opportunity and bagged millions of ADA tokens. On-chain analytics firm Coinglass reported the same.

That’s a substantial shift in ADA holdings. It suggests that investors might be moving their tokens into private wallets.

They could be anticipating a price rebound or looking to reduce exposure during market uncertainty. This outflow during the price dip indicates potential accumulation.

However, trader sentiment remains unchanged, as they appear strongly on the bearish side, according to data from Coinglass. At present, the major liquidation level for Cardano is $0.799 on the lower side.

There, traders have built $7.60 Million worth of short positions. Meanwhile, $0.851 is another key level with $22.25 Million worth of short positions.

These liquidation levels indicate that bears are dominating the asset. They believe the Cardano price will unlikely cross the $0.851 level anytime soon.

However, these levels could be liquidated if the market shifts and the price moves in either direction. The potential reason behind the strong bearish bets is the current price action and the presence of ADA at a key level.

Cardano Price Action and Key Technical Levels

Cardano technical analysis reveals that the asset recently broke out of a key resistance level at $0.84. Cardano price drop may be retesting a key breakout zone, hinting at bullish potential.

If support holds, the asset could be gearing up for a strong upward move. Notably, the price drop hasn’t shifted the asset’s current trend, which remains an uptrend.

Cardano price may hold above the $0.81 level based on recent price action. If this happens, it could soar by 38% and reach the $1.20 level in the coming days. On the other hand, if the current market sentiment remains unchanged, there is a strong possibility of a price reversal.

However, on the weekly time frame, the asset appears extremely bullish. It has already broken out of a double-bottom pattern, and the current drop seems like a potential retest.

RSI Insights and ADA Price Prediction

RSI has fallen significantly and has dropped below the overbought territory. It currently stands at 62.26. This indicated a potential slowdown in bullish momentum and the possibility of a short-term price correction.

Amid this correction, China’s top AI model, DeepSeek, predicts that ADA could reach $5–$10 during this bull run.

In addition, another crypto expert shared a post on X (formerly Twitter). The analysts stated that the Cardano price has just tapped a key demand zone around $0.74–$0.78. Also, it is already showing signs of a reaction.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.