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Cardano’s ADA is sitting around $0.876 right now, with a daily trading volume just over a billion dollars. But things aren’t exactly smooth. The price has dropped about 7% in just two days, and it feels like sellers are still in charge.
Looking at on-chain data from Santiment, there’s been a noticeable spike in something called the Network Realized Profit/Loss metric. It’s reached its highest point since July. That basically means a good number of investors are taking profits off the table. It doesn’t necessarily mean the project is in trouble, but it’s definitely putting a lid on any recovery for the moment.
Where Does ADA Go From Here?
Technically speaking, ADA is having a hard time getting past the 50-day exponential moving average, which is hovering near $0.88. There was a rejection around $0.923 that formed what traders call a bearish engulfing pattern—not a great sign. The RSI is sitting at 44, which suggests there might still be some room for the price to dip further.
If ADA can’t hold above the $0.85 support level, the next stops could be around $0.82 and maybe even $0.80. On the flip side, if it manages to push back above $0.884, that could be the first hint of strength returning. Traders seem pretty divided—some are ready to short if support breaks, while others are waiting for a clear move above $0.90 before getting bullish again.
Not All Bad News
Even with the recent slide, it’s not like the fundamentals have changed. Openbank, which is Santander’s digital banking arm in Europe, just integrated Cardano. That’s a big deal—it means 2 million more people have access. Stuff like that usually helps the longer-term adoption story, even if it’s not stopping the selling right now.
Still, caution is in the air. On-chain numbers show a net outflow of around $6.7 million from exchanges recently, which hints that investors might be moving holdings off platforms—maybe waiting things out. Without more money coming in, ADA could drift sideways or even lower before finding its footing again.
What’s Next?
For now, all eyes are on that $0.85 to $0.87 zone. If it holds, and buyers step back in, we could see another run toward $0.90 and beyond. But if it breaks down, things might get shaky. A drop below could open the door to $0.82 or even $0.78.
Whether ADA makes a move up or down next probably depends on how traders weigh these technical levels against real-world adoption news. It’s a tug of war, like it often is.