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Cardano (ADA) is showing signs of a mild recovery after a sharp 20% decline in the past 24 hours, extending its 30-day losses to 26.2%. Following the crash, ADA dropped to its lowest level in weeks but has since rebounded near the $0.65 mark. This recovery attempt is being fueled by two groups — whales and retail traders — both increasing their holdings as prices fall.
According to data from Santiment, wallets holding between 10 million and 100 million ADA have grown their collective balance from 13.06 billion ADA on October 10 to 13.20 billion today, adding roughly 140 million ADA worth about $89.6 million. This steady accumulation, even during market turbulence, indicates that large holders expect price stabilization or a medium-term recovery.
Supporting this sentiment, the Money Flow Index (MFI) has formed a higher low, signaling capital inflows despite the recent price drop. Retail investors are also joining in, as TradingView data shows growing buying pressure from smaller wallets, suggesting broader confidence in ADA’s rebound potential.
However, the technical outlook still carries risks. The Smart Money Index (SMI), which tracks professional traders’ positioning, has fallen sharply and remains weak, showing limited institutional interest. Meanwhile, the Relative Strength Index (RSI) has hit the oversold level near 30 but has not shown a bullish divergence — indicating that momentum has yet to reverse decisively.
Adding to the caution, Cardano’s descending trendline continues to form a bearish triangle on the daily chart, implying potential downside unless buyers can maintain momentum. For ADA to confirm a rebound, it must close above $0.68 to target $0.76 and $0.89. A break below $0.61, however, could expose it to further losses toward $0.55.
Despite weak technicals, whale and retail accumulation offers a glimmer of hope that Cardano’s recent slump could evolve into a gradual recovery if buying momentum strengthens.
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