Cardano (ADA) is back in the spotlight after an eye-catching $215 million surge in staking inflows, even as its price continues to trend downward. The move signals strong conviction among long-term holders — but can that outweigh bearish technical pressure?
As of April 30, Cardano’s price dipped to $0.670, marking a nearly 10% retreat from its recent monthly high. Yet behind the scenes, bullish fundamentals are quietly gaining strength.
$215 Million Staked in 24 Hours
According to StakingRewards, 307 million ADA were added to staking pools recently, with 160 million flowing in on April 30 alone. This brings Cardano’s staking ratio to 60.65%, far higher than:
- Ethereum at 28%
- Tron at 42%
A high staking ratio often reflects investor confidence and long-term commitment, effectively reducing circulating supply and limiting sell pressure.
The total value of staked ADA now exceeds $15.3 billion, suggesting that many holders view current prices as a long-term accumulation opportunity.
DeFi Ecosystem Shows Signs of Life
Beyond staking, Cardano’s DeFi landscape is expanding, with TVL (total value locked) now sitting at $394 million. Popular dApps like Minswap, Liqwid, and Indigo are leading the charge.
Daily DEX volumes are also holding above $4 million, reflecting healthy on-chain activity even during a market pullback.
Perhaps most exciting is Cardano’s upcoming Bitcoin integration, a zero-knowledge-based solution that will allow BTC holders to earn yield within the Cardano ecosystem. This could bring significant liquidity and visibility to the chain in the coming months.
Technical Analysis: Still Bearish in the Short Term
Despite promising fundamentals, the technical picture remains fragile.
- Price: Currently at $0.68, down from $1.32 in December.
- Fibonacci Levels: ADA has dropped below the 61.8% retracement, a level often associated with trend reversals.
- EMA: The coin trades under its 50-day EMA, confirming bearish momentum.
- Pattern: ADA recently retested the upper bound of its descending channel, only to retreat again. This rejection keeps $0.513 — the lower bound — in sight as the next possible target.
To reverse the trend, ADA would need to break above the descending channel, reclaim the $0.75–$0.80 zone, and confirm support with volume.
Bottom Line: Fundamentals Up, Price Not Yet Following
The surge in staking and DeFi growth shows that Cardano’s core community is doubling down, but short-term price action is still dominated by technical weakness.
If ADA can stay above $0.65 and bounce off the lower end of its channel, the fundamental support could lay the groundwork for a summer rally — especially if the Bitcoin integration brings fresh capital to the chain.
But for now, traders should watch the $0.513 support level closely. A break below it could trigger further downside, despite bullish sentiment from long-term holders.
