Cardano price sat at $0.64 at press time after a difficult month that saw the token fall more than 20%. The daily movement showed a 2.6% gain while the weekly chart reflected a 1.2% increase.
Traders focused on the $0.64 area as a potential support zone. Market desks used 12-hour charts to track whether the selling pressure was slowing down.
Support levels mark areas where buyers tend to enter after price drops. When buying interest holds at these levels, it can stop further declines and create a base for future moves.
Traders look for specific signs before calling a bottom. These include rising spot volume, closes above recent highs, and a pattern of higher lows.
Higher lows occur when each pullback stops above the previous dip. This pattern suggests buyers are absorbing selling pressure and demand is improving.
On-chain data showed whale wallets holding between 10 million and 100 million ADA increased their positions. Their combined holdings rose from 13.16 billion to 13.21 billion ADA over two days.
This represents an addition of roughly 50 million ADA valued at $32.5 million. The buying pace remained steady but not aggressive yet.
The Cardano mainnet crossed 115 million total transactions since launch. The network has operated continuously for over eight years.
JUST IN: Cardano $ADA has surpassed 115 million transactions on mainnet. pic.twitter.com/ftr3d2imHm
— TapTools (@TapTools) October 23, 2025
Community members on X highlighted the milestone as evidence of consistent network use. The transaction count reflects activity across the entire lifespan of the project.
Cardano launched in 2017 with the Byron era using the Ouroboros Classic proof-of-stake system. Proof-of-stake allows validators to lock tokens to secure the network while using less energy than mining-based systems.
Wallets like Daedalus and Yoroi provide users with tools to store ADA and access applications. These interfaces help people interact with the Cardano ecosystem.
The Spent Coins Age Band metric tracks how much ADA moves across different wallet age groups. This figure dropped from 179.16 million ADA on October 11 to 114.71 million on October 25.
The 36% decline means fewer coins are changing hands. This shows early dormancy building but hasn’t reached the deep holder inactivity seen before strong rallies.
The metric remains above the September 22 low of 89.22 million ADA that triggered the last brief bounce. Dormancy needs to drop closer to the under-90-million range to confirm a true accumulation phase.
ProShares Trust Index ETF recently added ADA to its product. The listing gives traditional investors a new way to gain exposure to Cardano through familiar brokerage platforms.
Market observers said the move improves discoverability for institutions. It also allows fund managers to include ADA in multi-asset strategies more easily.
The combination of the ETF listing and the transaction milestone shaped the backdrop for recent trading activity.
Technical analysis shows an inverse head and shoulders pattern forming on the daily chart. This pattern often appears before bullish reversals.
Cardano $ADA is building a massive inverse head and shoulders. 👀 pic.twitter.com/4MYlWxMF6Q
— TapTools (@TapTools) August 20, 2025
The pattern includes a downward-sloping neckline, which indicates sellers remain active. However, ADA’s ability to hold near current levels provides some encouragement.
The token trades just below the 0.236 Fibonacci retracement level at $0.66. A daily close above $0.66 could confirm a breakout with potential targets at $0.79, $0.83, and $0.89.
The RSI shows a bullish divergence between October 11 and 22. The RSI made a higher low while price formed a lower low. This pattern suggests selling pressure is weakening and buying strength is returning.
The combination of the RSI signal and the inverse head and shoulders structure provides a technical case for reversal. However, the downward-sloping neckline presents risk.
If price fails to hold above $0.60, the pattern becomes invalid. This could push ADA down to $0.50, a key support level.
Traders are watching whether buyers continue to defend the $0.64 area. They track intraday volume and look for higher lows on the 12-hour chart.
The post Cardano (ADA) Price: Whales Scoop Up $32M as Bullish Reversal Pattern Forms appeared first on CoinCentral.
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