Cardano price prediction: ADA whales go quiet as analyst warns of 24% drop

Cardano price has recovered nearly 3% to $0.2235 on Wednesday, October 21, although a bearish SuperTrend signal has raised concerns that ADA could fall toward $0.17 if key support fails. Summary Cardano gained 3% to trade around $0.2235 on October 21, despite bearish technical signals. Analyst Ali Martinez warned that ADA could drop toward $0.17 if daily support at $0.21 breaks. The SuperTrend indicator has turned bearish, following a comparable May signal that preceded a 46% correction. Wallets holding between 100 million and 1 billion ADA showed little change over the past 10 days. Resistance at $0.2255 and $0.2394 remains important as ADA attempts to recover. According to crypto analyst Ali Martinez, the cryptocurrency’s recent technical weakness has not yet produced a confirmed breakdown, while large Cardano holders have shown little change in their positions over the past 10 days. Cardano price faces $0.17 downside risk as SuperTrend turns bearish Martinez identified a new sell signal on Cardano’s chart after the SuperTrend indicator turned bearish. The analyst compared the development with a similar signal recorded on May 22, which was followed by a 46% price correction. 3/5 ...