Cardano (ADA) Price Prediction for February 28
Today, February 27, 2025, Cardano Blockchain’s local token Ada appears to be confirming its bearish outlook due to recent whale activity and the bearish price action it forms within the day-to-day range.
Cardano (ADA) current price momentum
During the Asian Fair, the ADA experienced a rising rally and seemed to be trying to recover, but then fell, again down to a critical support level below $0.65.
ADA is currently trading at close to $0.65, down 0.85% over the past 24 hours. However, during the same period, its trading volume fell by 5.5%, indicating that traders and investors’ participation has declined due to high price volatility in assets.
ADA price action and key levels
According to expert technical analysis, the ADA appears to be bearish because it violated and closed daily candles below $0.65.
Based on current price action and historical patterns, if the ADA stays below the $0.68 level and further closes the daily candle below $0.63, then the asset is likely to drop 30% to reach the $0.425 level in the future.
Due to the continued decline in the market, the price of ADA has dropped below the 200 exponential moving average (EMA) within the day-to-day range, indicating that the assets are on a downward trend.
Whale dumps 170 million ADA
In addition to the bearish outlook for ADA, a well-known crypto expert shared an article on X (formerly Twitter) highlighting that crypto whales have sold more than 170 million ADA tokens in the past 96 hours, further supporting bearish sentiment.
With this bearish outlook and overall market sentiment, ADA’s future open interest (OI) continues to decline. From Small shop It shows that since the inauguration of US pro-Claytop President Donald Trump, Aida’s interest in opening futures has dropped from $1.48 billion to $542.4 million, indicating a decline in trader confidence.
