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Cardano's ADA drops 7% as large holders buy amid mixed market signals and strong testnet results

Technical Signals
28 Aug 2026
Blockonomi
View Source
Bearish
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Cardano's ADA price fell over 7% to around $0.210, dipping below $0.220 despite large wallets buying 160 million tokens during the decline. Market sentiment is bearish with a low long-to-short ratio of 0.74, though some bullish signs appear in positive funding rates. Technically, ADA faces resistance near $0.213-$0.246 and support around $0.195-$0.173. Meanwhile, Cardano's Leios testnet showed six times the throughput of the current mainnet, indicating strong technical progress. The next price move depends on overcoming resistance and broader market trends.

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