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The stochastic RSI has not yet formed a bullish cross, indicating that there is no clear sign of a momentum shift. Traders are closely watching whether the current support level will be maintained or broken.

On the daily timeframe ADA is trading inside the descending corridor. Recently, there was a bounce from $0.33, and now the asset is testing the near-term resistance represented by the 20-day EMA ($0.37) and 50-day SMA ($0.38). Overcoming these marks is necessary for any further upward movement. CryptoCeek analyst noted:

ADA bounced off $0.33 and is now testing its moving averages – a crucial moment.

If the price fails, it risks returning to the lower boundary of the channel at $0.33. A fixing above the downtrend line may open the prospect of growth up to $0.50. At the same time, RSI is holding near 44, indicating weak dynamics. A rise above 50 would confirm a breakout if buyers intervene.

According to Santiment data, as we mentioned earlier, large ADA holders (with balances between 100,000 and 100 million tokens) have increased their holdings by over 454 million ADA in the past two months. At current quotes, this is equivalent to about $160 million dollars. Small investors holding 100 tokens or less have reduced their positions by 22,000 tokens over the past three weeks.

On January 29, there was a net ADA outflow of $3.36 million from cryptocurrency exchanges. More tokens were withdrawn than deposited, which often signals the transfer of assets to long-term storage or staking.

Charles Hoskinson, Cardano’s founder, said that next month could see meaningful updates, according to CryptosRus. He characterized February as a very busy month, without going into details.

Among the expected events are Cardano management upgrades, testing of privacy solutions, and the planned launch of ADA futures on the CME on February 9.