Cardano (ADA) is trading near $0.34 after a 6% drop in the past 24 hours. It is also down about 5% over the past week, extending losses that began in late 2025. Year-to-date, the token is down roughly 1%, in line with broader market weakness.

Market sentiment remains cautious. Ongoing geopolitical tensions between the US and Iran continue to weigh on risk assets, including ADA.

Key Support Holds for Now

ADA is hovering near a support zone around $0.32, marked as S1 on the weekly chart shared by Crypto Crew University. This level has held before and is now being tested again. It sits below the 21-week and 50-week moving averages, which means the longer trend is still down.

#ADA 1W Update!
Price sitting at S1 (~0.32), major decision level.
Below 21 & 50 MA = trend still heavy.
SRSI needs a cross to confirm momentum.

This chart needs proof, not prediction.

If you were trading this, what would invalidate your bias?
We’re debating it live inside… pic.twitter.com/aVsIUpRlZ7

— Crypto Crew University (@CryptoCrewU) January 29, 2026

The Stochastic RSI has yet to form a bullish cross, meaning there is no strong signal of a shift in momentum. Traders are waiting to see if this support holds or breaks.

On the daily chart, ADA is moving within a downward channel. The price recently bounced from $0.33 and is now testing short-term resistance at the 20-day EMA ($0.37) and the 50-day SMA ($0.38). These levels need to be cleared for any near-term move higher. Analyst Mr. CryptoCeek commented,

“ADA bounced from 0.33 and is testing its moving averages — decision time.”

If it fails here, the price may return to the lower edge of the channel near $0.33. A close above the downtrend line could open the path to $0.50. Meanwhile, the RSI is near 44, showing weak momentum. A push above 50 may help confirm a breakout if buyers step in.

Large Holders Accumulate While Retail Sells

According to Santiment, large ADA wallets, holding between 100,000 and 100 million tokens, added more than 454 million ADA over the past two months, as we previously reported. At current prices, that’s about $160 million. Smaller holders with 100 ADA or less have sold 22,000 tokens over the past three weeks.

On January 29, ADA recorded a net outflow of $3.36 million from exchanges. More tokens left platforms than entered, which often means users are moving funds into wallets for holding or staking.

Cardano (ADA) Spot Inflow/Outflow 1.29. Source: CoinGlass

Separately, Cardano founder Charles Hoskinson said major updates could arrive next month, according to CryptosRus. He described February as “a very crazy month,” without giving specific details.

Upcoming events may include Cardano’s governance upgrades, privacy testing, and the launch of ADA futures on CME, scheduled for February 9.

The post Whales Are Buying ADA While Retail Sells: What It Means for Cardano’s Price appeared first on CryptoPotato.

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Filed under: Bitcoin - @ January 29, 2026 7:04 pm