Cardano’s ADA token has been showing mixed signals in early September, with price holding key support levels even as large holders have been selling and retail sentiment turns increasingly negative. The eighth-largest cryptocurrency by market capitalization is currently defending important technical thresholds that could determine its next major move.
On-chain analytics firm Santiment reports that Cardano’s typically optimistic retail crowd has shifted to its most negative stance in five months. This sentiment crash comes even as ADA has rebounded approximately 5% from its late-August lows.
“Cardano has quietly seen its normally optimistic crowd start to turn bearish,” Santiment noted in a recent post. The firm tracked the bullish-to-bearish ratio in social commentary, which has fallen to around 1.5:1, the lowest reading in five months.
This sentiment shift aligns with classic contrarian market theory. Santiment explained: “Prices typically move the opposite direction of the crowd’s expectations. When small traders sell off their bags out of impatience and frustration, it is generally the key stakeholders who accumulate and drive up prices again.”
The sentiment chart demonstrates three distinct phases over the past month: an early-August “greed” spike with a bullish-to-bearish ratio surging to roughly 12.8:1 followed by a pullback; a mid-August “fear” pocket near 2.0:1 preceding a rally; and the current bearish reading coinciding with ADA’s recent bounce.
Market analyst Quantum Ascend has identified that ADA is currently tracking within a clearly defined higher-time-frame structure. The analyst points out that Cardano is respecting a channel pattern dating back to early June, characterized by higher highs and higher lows.
“Price Currently sitting atop the .382 Fib at $0.82. Cardano’s decision point appears near, but we still need to be looking to the Macro,” Quantum Ascend noted.
In this technical framework, ADA is following an ascending channel that has contained price action since mid-June. A short corrective channel from August 14 sits inside the broader up-channel and has carried the price back to the lower end of the channel as well as a Fibonacci retracement cluster.
The 0.382 retracement near $0.821 is currently acting as first support and an immediate “decision point.” Below that, deeper pullback areas include the 0.309 retracement around $0.762 and the 0.236 near $0.702.
Overhead resistance levels include the 0.5 retracement near $0.879, the 0.618 near $1.043, and higher targets extending up to $1.326 if bullish momentum returns.
While retail sentiment has turned bearish, large holders have been making significant moves. Trader Ali Martinez, who has over 153,000 followers on X, reported that whales have dumped more than 30 million ADA after the token hit the $1 mark.
This massive offloading raises questions about whether Cardano is facing a deeper correction or setting up for a rebound. Whale activity often sets the tone for the overall market, making these movements particularly noteworthy for traders.
30 million Cardano $ADA sold by whales in the past week! pic.twitter.com/HkhkZyG019
— Ali (@ali_charts) September 1, 2025
Despite this selling pressure, ADA has managed to deliver a 9% gain over the past 30 days. This resilience suggests that new buyers may be stepping in to absorb the selling, potentially setting the stage for further price appreciation.
The token has found strong support at the 200-day exponential moving average (EMA), which aligns with the lower boundary of its ascending channel. This technical setup indicates ADA could move higher if it breaks above the $1 resistance level.
At press time, ADA is trading at $0.8177, holding above key support as market participants watch for the next directional move.
The post Cardano (ADA) Price: Sentiment Hits 5-Month Low as Token Defends $0.82 Support appeared first on Blockonomi.
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