Cardano (ADA) on the ADA/USDT pair is showing increased volatility: in recent days, the price dropped from $0.7258 to $0.6231, after which there was a slight rebound to $0.6421. Strong pressure on the market was exerted by large holders (“whales”), who sold more than 270 million ADA over the week, coinciding with a 14% price drop. Currently, ADA is trading near key support at $0.61–0.62 — this level has already held back further declines several times. If the support is broken, a pullback to $0.5579 is possible. At the same time, technical indicators (RSI, moving averages) indicate a predominance of bearish sentiment. Trading volumes remain low, making entry into the market risky for both longs and shorts. An interesting piece of news is the increased probability of approval for a spot ETF on Cardano to 75%, which could be a driver for restoring demand.
