The ADA price is under pressure again. Cardano dropped 4% in the last day to $0.1466. The rest of the crypto market barely moved.
So this wasn’t about Bitcoin or the economy. Something on Cardano itself went wrong.
A wallet project called SecondFi, it used to be Yoroi, got hacked. Early numbers show 16 million ADA stolen. SlowMist, a security firm, says total losses could top $20 million. The incident has fueled fresh selling as traders assess the fallout and wait for answers from the project’s ongoing security review.
With sentiment taking a hit and the ADA price trading near multi-year lows, investors are now asking whether this is the final leg down or the beginning of a recovery.
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ADA Chart Analysis
We had a look at the ADA chart, and the broader trend remains firmly bearish. The price has fallen from above $45 earlier in the chart to around $14.8, producing a long series of lower highs and lower lows. The steep decline at the start of June accelerated the downtrend and pushed ADA into a fresh low range.
Cardano’s RSI is around 36. That’s below 50, so sellers are still in control. But it’s not oversold anymore, the panic from earlier this month has faded.
The Stochastic RSI is starting to climb out of oversold territory, with readings near 15 and 13. That kind of low number usually shows up when a downtrend is running out of steam. But there’s no clear bullish crossover yet. So it’s too early to call a bottom.
Cardano News Affecting ADA Price
The SecondFi hack is the main thing dragging Cardano down right now. The wallet’s key generation system got compromised. Confirmed losses are about 16 million ADA, worth roughly $2.4 million. SlowMist says the real number could top $20 million.
That kind of thing scares people off. New users and money might stay away for a while. That said, some analysts think Cardano is getting close to a big turning point technically. Market analyst Hamza argues that ADA’s structure resembles the final stage of a lengthy Elliott Wave correction.
The $0.16 region is viewed as a key Fibonacci level. A sustained move above it could support a trend reversal, whereas a breakdown below major support would invalidate the thesis.
Cardano also has some positive news coming. A testnet called Leios is on the way. The goal is to boost throughput by 10 to 65 times. That would push Cardano past 1,000 transactions per second.
The van Rossem hard fork is also progressing through governance milestones. Beyond network upgrades, ADA is expected to become eligible for a spot ETF under updated SEC rules in August 2026, creating a potential institutional catalyst. Some analysts also believe Cardano’s decentralized structure strengthens its case for commodity classification under the proposed CLARITY Act.
Related Cardano News: Here’s Where Cardano (ADA) Price Could Be Headed This Week
ADA Price Prediction: Is the Worst Finally Over?
The answer is not definitive yet, but the evidence points to Cardano entering a critical decision zone.
The bearish case remains valid as long as the fallout from the SecondFi exploit weighs on sentiment. If sellers stay in control, the ADA price could remain below $0.16 and retest lower support levels.
The most likely scenario is consolidation. The chart shows oversold conditions easing, but buyers have not fully reclaimed momentum. That leaves Cardano caught between negative short-term news and improving long-term fundamentals.
The bullish case depends on reclaiming and holding above $0.16. If that happens, traders could begin pricing in the Leios upgrade, the van Rossem hard fork, and ETF eligibility. For now, the worst may be close to ending, but the Cardano price still needs technical confirmation before a sustained recovery can begin.
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