ADA fell from $0.688 to $0.625 before bouncing back to $0.641, a 6.01% drop on the day.
Volume spiked during the breakdown between 01:00–02:00 UTC, establishing strong support at $0.622.
A 58% recovery off the lows formed a rising channel, with higher lows pointing to mild accumulation.
Resistance at $0.645 has capped upward momentum for now, with buyers stepping in near $0.636.
Volume peaks at 13:50 and 14:00 UTC (2.6M and 5.7M ADA) suggest renewed interest but limited follow-through.
Cardano founder Charles Hoskinson pushed back strongly, calling the sell pressure concerns a “false narrative.” In his view, the treasury could convert the 140 million ADA gradually over-the-counter or through algorithmic execution strategies like time-weighted average price (TWAP) orders to avoid market disruption. He emphasized that Cardano’s lack of stablecoin depth is holding the ecosystem back, and this initiative could not only address that gap but also generate sustainable, non-inflationary revenue for the treasury.