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Cardano price has fallen more than 17% in a week as the token tests a fragile support zone around $0.28. On-chain data shows panic selling has eased and some whales are buying, but momentum remains weak and chart signals still point to downside risk.
At the time of writing, ADA trades around $0.30, slightly above last week’s lows near $0.26, and remains locked in a bearish channel that has persisted since December.
Cardano price has retreated more than 17% over the past seven days, dropping from late January levels toward the $0.28 area before briefly touching about $0.26. The move extends a correction that started after a December peak and has erased a significant part of recent gains.
Since that peak, ADA has formed a sequence of lower highs and lower lows that outline a falling channel on the daily chart. The upper boundary currently sits near the $0.34 region, where former support and the 0.618 Fibonacci retracement cluster create a key resistance zone. Traders view this area as the first hurdle that bulls must clear to change the sentiment.
On the downside, Cardano price now leans on support around $0.28, which has absorbed selling attempts so far. A confirmed daily close below that level would signal fresh weakness and could open the way toward the next major support near $0.18, implying roughly 34% additional downside from recent prices.
Until ADA breaks out above the channel and reclaims $0.34, many rallies are likely to be treated as bounces within an ongoing downtrend.
On-chain activity supports the structure of a market that has moved from panic to caution. The Spent Coins Age Band metric, which tracks how many coins move on a given day by age group, spiked to about 168 million ADA between January 25 and January 31, matching the sharp late-month sell-off. Since then, it has dropped toward 40 million ADA, near a three-month low.
Lower readings on this metric indicate that fewer dormant coins now change hands. Long-term holders and larger investors appear less willing to sell aggressively at current prices, which often happens after a wave of capitulation. This shift suggests that the heaviest phase of forced selling may have passed, at least in the short term.
Whale behavior adds nuance. Wallets holding between 10 million and 100 million ADA have increased their balances from roughly 13.36 billion to 13.5 billion ADA, signaling selective accumulation on the dip.
However, other large holder groups have not followed with similar conviction, which implies that broad-based accumulation has not yet started in earnest. Data platforms such as Santiment and CryptoQuant continue to show a mixed backdrop rather than a clear shift to sustained buying.
