Cardano Price at Key Support as Whale Numbers Hit 4-Month High

$ADA, the twelfth largest cryptocurrency by market cap is down 1.7% on Tuesday ahead of U.S. market hours to trade at $0.24. The selling pressure acts as a follow up from yesterday’s pullback as Bitcoin’s rejection from $70,000 triggered a derivatives-led sell-off which flushed out overleveraged positions. While the geological tension surrounding the strait of Hormuz remains elevated, $ADA’s number of whales’ wallets are steadily rising in 2026, signaling a high conviction from high-networth investors. Is Cardano price ready for $0.3 breakout?

$ADA Drops 7% as Strait of Hormuz Tensions Shake Crypto Markets

In the last 48hours, the Cardano price recorded a sharp drop from $0.268 to $0.241, registering a loss of 7%. The decline was due to investors withdrawing riskier investments as tension over the Strait of Hormuz increased. Iran has a tight deadline to open the waterway, and President Donald Trump threatened significant military response in case no deal is done by Tuesday evening. This uncertainty prompted a broader shift away from volatile assets toward safer options like traditional stocks and cash.

As a result bitcoin price got rejected from the $70,0000 mark, and triggered liquidation of overleveraged long positions. While the market uncertainty may create panic among retail traders, the number of Cardano whale steadily increased in this period

According to Santiment data, the number of wallets with at least 10 million $ADA tokens has increased to 424, the highest point in four months. This is an increment of 5.2% in the last nine weeks. Historically, when smart money accumulates and retail capitulates, it creates a bullish divergence that often precedes a market rebound.

As of 2026, Cardano has not separated itself in terms of performance with other altcoins. However, it has been up by 11% since it hit its lowest point on February 5.

Cardano Price Heading to Multi-Month Support at $0.22

Over the past two months, the Cardano price showcased a neutral to bearish outlook in its daily time frame chart. The coin price currently navigates through a narrow consolidation range between $0.3 and $0.22 with constant overhead pressure.

A deeper analysis of the technical chart shows a significant volume spike during the recovery phase within this lateral trend. However, despite such strong attempts from buyers, the coin price remains in a sideways trend, indicating a firm grip from sellers.

With today’s downtick, the Cardano price currently trades at $0.24 and holds a market cap of $8.7 billion. With sustained selling, the price of $ADA could plunge another 8.3% and retest the February low of $0.22 support.

A possible breakdown below this support would further intensify the market selling pressure and heading for $0.2 psychological level.

Thus, for buyers to renew their recovery momentum a bullish breakout from the $0.3 is necessary.