Cardano price slipped again on Tuesday, dropping toward $0.63 despite the Federal Reserve’s latest 0.25% rate cut and plans to end quantitative tightening (QT). The broader crypto market initially reacted positively to the Fed’s dovish tilt, but risk appetite quickly faded as whale activity weighed on sentiment.
Whale Dump Offsets Dovish Fed Boost
On-chain data from Santiment showed that Cardano whales sold roughly 100 million ADA over 72 hours, offsetting the broader relief that followed the Fed’s policy shift.
The sell-off, worth about $65 million, added significant pressure to the ADA price, which is now down over 2% in 24 hours and struggling to maintain momentum around the $0.63–$0.65 range.
The timing couldn’t be worse for bulls. The Fed’s October 29 decision, its second straight rate cut, aimed to calm markets amid a cooling labor market and persistent inflation.
The FOMC lowered rates to 3.75–4.00% and announced that QT will end on December 1, signaling a shift toward looser liquidity conditions.
Still, the government shutdown left policymakers with limited data, creating uncertainty over how much further the Fed can ease without reigniting inflation.
That ambiguity, paired with mixed Fed messaging, kept traders divided, and Cardano (ADA) felt the pressure of that indecision.
Cardano Price Prediction: Key Support at $0.62 as Traders Watch $0.80
Technical data shows that the Cardano price is currently trapped in a tightening consolidation pattern. TradingView shows ADA hovering near the lower Bollinger Band ($0.63) after multiple failed attempts to break above short-term resistance at $0.68.
Analyst Ali Martinez noted that ADA “needs to break above $0.80 to rally toward $1.70,” highlighting a bullish setup forming within a long-term symmetrical triangle. For now, though, momentum is clearly muted, with volume rising but sellers still dominant.
Immediate support lies at $0.62, and a decisive break below that could expose the token to further downside toward $0.58. On the upside, reclaiming $0.68–$0.70 would be the first sign of a rebound attempt, though confirmation only arrives above $0.80 with high-volume follow-through.
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