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    Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

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    Cardano (ADA) Price Prediction for February 28

    • currency-symbol ADA $ 0.6885 (4.46%) top gainer
    Story Highlights
    • Cardano (ADA) could drop by 30% to reach the $0.425 mark if it closes a daily candle below the $0.63 level.

    • ADAโ€™s futures open interest (OI) has plunged from $1.48B to $542.4M, signaling declining trader confidence.

    Today, February 27, 2025, ADA, the native token of the Cardano blockchain, appears to be confirming its bearish outlook due to recent whale activity and the bearish price action it has formed on the daily timeframe.

    Cardano (ADA) Current Price Momentum 

    During the Asian trading session, ADA experienced an upside rally, seemingly attempting a recovery, but later plummeted, once again falling below the crucial support level of $0.65.

    ADA is currently trading near $0.65 and has experienced a modest price drop of 0.85% in the past 24 hours. However, during the same period, its trading volume declined by 5.5%, indicating lower participation from traders and investors due to high price fluctuations in the asset.

    ADA Price Action and Key Levels 

    According to expert technical analysis, ADA appears bearish as it has breached and closed a daily candle below the $0.65 mark.

    Based on the current price action and historical patterns, if ADA remains below the $0.68 level and further closes a daily candle below the $0.63 mark, there is a strong possibility that the asset could drop by 30% to reach the $0.425 level in the future.

    Due to the ongoing market decline, ADA’s price has dropped below the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating that the asset is in a downtrend.

    Whales Dump 170 Million ADA 

    In addition to ADAโ€™s bearish outlook, a prominent crypto expert shared a post on X (formerly Twitter), highlighting that crypto whales have sold over 170 million ADA tokens in the past 96 hours, further supporting the bearish sentiment.

    With this bearish outlook and overall weak market sentiment, ADAโ€™s futures open interest (OI) continues to decline. Data from Coinglass shows that since the inauguration of U.S. pro-crypto President Donald Trump, ADAโ€™s futures open interest has dropped significantly from $1.48 billion to $542.4 million, signaling declining trader confidence.

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