Cardano (ADA) is now supported on Brave Wallet, introducing the blockchain to a potential user base of 88 million monthly users. The integration enables Cardano holders to manage assets, sign transactions, and access decentralized features directly within the Brave browser. However, despite this exposure boost, ADA’s price continues to decline.
Brave Wallet Adds Cardano Mainnet Support
The Brave Wallet now supports Cardano’s mainnet alongside other major chains like Solana, Ethereum, and Bitcoin. This integration could expand Cardano’s utility by introducing it to millions of privacy-focused users. With BAT token holders receiving a related airdrop and Cardano now a visible part of Brave’s supported networks, the visibility of ADA in retail-facing platforms has increased.
However, the listing has not yet triggered a market reaction. ADA is trading around $0.60, facing a continuation of selling pressure seen throughout the week.
On-chain data shows that whales acquired 230 million ADA earlier in the week but reversed course by midweek, offloading the same volume. This suggests a lack of conviction among large holders, likely influenced by macro uncertainty or doubts surrounding near-term ADA performance. Their total holdings remain close to 3.18 billion ADA.
Meanwhile, wallets with more than 1 billion ADA added 180 million coins in June, showing mixed sentiment across whale categories.
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ADA Slides Below Key EMAs as RSI Nears Oversold Territory
Cardano trades around $0.60 at the time of writing, remaining below all major exponential moving averages—20, 50, 100, and 200-day. These EMAs now form stacked resistance between $0.65 and $0.70.
The Relative Strength Index (RSI) is near 36, suggesting continued bearish momentum and potential oversold conditions. Price is hovering near short-term support between $0.59 and $0.62. A breakdown below this zone could open the path toward $0.50, a level not revisited since late 2023.
This technical setup aligns with the recent loss of whale support and declining trading volume, indicating toward the risk of further downside in the near term.
Long-Term Chart Still Shows Structural Retest
Despite the short-term weakness, ADA remains within a multi-year wedge structure, first broken in late 2023. The current price action appears to be a retest of that breakout zone. Historical retests of similar patterns in 2020 and 2023 preceded major price expansions.
The broader support zone between $0.21 and $0.30 remains critical. As long as ADA stays above this range, the long-term bullish setup remains valid. Resistance above $1.26 and Fibonacci extensions near $3.14 outline potential targets if momentum returns later in the cycle.
