ADA trades near $0.2515 on October 8, down about 1.5% rather than the 8% drop cited in the headline. Reported whale selling and falling futures open interest are pressuring the token even as its daily chart structure stays intact, leaving $0.2488 support as the key level to watch.
Cardano changed hands near $0.2515 on October 8, down roughly 1.5% from the prior close and within an intraday range of about $0.2508 to $0.2579. That move does not support the 8% same-day decline cited in the headline.
Whale selling and falling open interest weigh on ADA
Large holders have reportedly sold about 90 million ADA, worth approximately $22.5 million, since September 20, according to CoinEdition reporting carried by CryptoNews. Futures open interest declined about 9% over the same period.
That sale is not a same-day flow measure, so it cannot by itself explain every intraday move. Still, it provides relevant context for a market now trading near support.
Daily trend holds, but short-term momentum weakens
ADA remains above all eight tracked daily moving averages, with the 50-day average above the 200-day average, according to Coinotag's October 8 technical reading. The 14-day RSI stands at 56.4, a neutral-to-positive reading below overbought territory.
The shorter timeframe looks weaker, however. ADA's four-hour RSI sits at 43.6 and is classified as bearish, notably below the daily reading. Daily MACD adds to that caution: the indicator reads 0.009760, below its 0.010647 signal line, based on CoinStats data.
Support at $0.2488 frames the next move
Holding above $0.2488 would keep attention on a move toward $0.2586. Losing that level would weaken the immediate structure and put $0.2428 in view.
Cardano DEX volume cools after early-October surge
Cardano decentralized-exchange volume reached about $37.14 million over seven days, up 112% week over week, with daily volume peaking near $11.74 million on October 1, according to The Crypto Basic, citing DeFiLlama. Reported daily volume then cooled to $5.72 million on October 3 and $4.05 million on October 4, as CryptoTicker reported.
That retreat does not establish a causal link to ADA's current decline, but it coincides with the weaker four-hour RSI and the MACD still below its signal line. The response around $0.2488 and $0.2586 now carries more weight than the headline percentage alone.
Source: Crypto Daily
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