Cardano (ADA) Price: Next Major Support Unveiled as Market Dips

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As market awaits ADA's next price move, on-chain data has provided clear indication of major support

, the 10th-largest cryptocurrency, is no exception. At the time of writing, ADA was down 2.38% in the previous 24 hours to $0.411.Recent on-chain data has pinpointed a critical support level for ADA, shedding light on a significant price range where a substantial volume of ADA was acquired., the next critical support level for Cardano is between $0.371 and $0.403. This range is particularly noteworthy because it marks a zone where 2.6 billion ADA were purchased by 251,280 addresses.

The indicated support zone could potentially arrest the current downward trend and provide a basis for a price rebound. Notably, this support halted ADA's price decline during the mid-April Washout.That said, a sustained price above $0.386 could indicate that the market is respecting on-chain data signals, possibly leading to a consolidation, or upward movement. Conversely, a break below this range might lead to further declines.

 

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