Cardano faces the risk of a 31% drop as whales sell off 210 million ADA.

Cardano (ADA) is going through a prolonged period of sluggish price performance. The price of this altcoin has consistently struggled as investor support has gradually decreased, and ADA has yet to recover.

Now the question is: Will the ADA continue to fall by another 31%?

Hoskinson supports the GENIUS bill.

Charles Hoskinson has voiced his support for the GENIUS Act and agrees with former President Trump's remarks that banks are hindering its implementation. Hoskinson believes Trump's words could be the much-needed signal of support for the ADA recovery.

“I agree with the President. The banks have amended the bill 137 times. They need to stop interfering and trying to stop the industry,” Hoskinson Chia .

However, investor sentiment remains weak, with "whales" leading the sell-off. Over the past week, approximately 210 million ADA, equivalent to over $56.7 million, has been sold. As whales continue to withdraw Capital, the market becomes increasingly negative, compounding ADA 's difficulties. Also Read analysis .

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The growing wave of pessimism from investors, especially large investors, is making ADA 's recovery even more difficult. Despite Mr. Hoskinson's efforts to speak out, ADA price remains under strong selling pressure, causing retail investor confidence to continue to decline.

The STH Cardano team holds the power of decision.

The overall market momentum for Cardano is also not very positive. The MVRV Longing/ Short Difference – which measures the return of long-term investors (LTHs) compared to short-term investors (STHs) – has remained in deep negative territory.

This indicates that the STH group is currently dominant and profitable, while the LTH group is struggling. The lack of strong recovery momentum coupled with weak buying power has allowed short-term investors to control the market. Often, when this group becomes profitable, they sell immediately, further driving down the price of ADA .

As selling pressure from STHs continues to mount, ADA is likely to experience greater volatility. The lack of long-term investor inflows suggests Cardano is unlikely to experience a strong recovery in the short term.

ADA price is about to drop.

Currently, ADA is priced at $0.27, below the $0.28 resistance level. This altcoin has formed a bearish flag pattern, signaling a potential further price drop of 31.75% to the $0.17 support level. If ADA fails to break through this resistance and continues to fall, it could suffer further significant losses.

The negative market sentiment and current price trend suggest that if ADA loses the $0.25 support level, selling pressure will intensify. If it subsequently loses the $0.22 support level, the bearish flag pattern will be confirmed, and ADA could fall to $0.19, or even close to $0.17.

However, if Cardano receives strong community support or macroeconomic conditions improve, ADA could still bounce from the $0.25 support level and recover to $0.31. If it breaks above $0.31, the negative scenario will be invalidated, and Cardano could reverse its trend and experience stronger growth in the near future.