In the quiet corners of the digital world, Cardano has slipped into the beta version of Brave Wallet, like a shy child at a school dance, suddenly exposed to a staggering 88 million monthly active users. Who knew blockchain could be so popular? 🎉
This little revelation was first unearthed by a keen-eyed Cardano enthusiast on June 19, who shared a screenshot that showed Cardano (ADA) strutting its stuff in the wallet interface. This follows a grand announcement from May, when Input Output, the wizards behind Cardano, and Brave Software decided to join forces and bring full Cardano support to Brave’s crypto wallet. Talk about a match made in blockchain heaven!
🚨Cardano now in the beta version of Brave!
That’s 88 million monthly active users!
Also, BAT holders get the Midnight NIGHT airdrop. #Cardano @IOHK_Charles
— St₳ke with Pride 🌈 SPO & DRep (@StakeWithPride) June 19, 2025
This integration allows users to send, receive, swap, and sign transactions using Cardano assets within the privacy-focused browser. It’s like giving Cardano owners a shiny new toy to play with—managing tokens like Midnight’s NIGHT, engaging with decentralized apps, and participating in governance. What a time to be alive!
But alas, despite this shiny new toy, the price action has yet to reflect any excitement. As of now, Cardano is trading at $0.6002, down 0.5% on the day, and hanging out near the lower end of its 7-day range, which is about as thrilling as watching paint dry.
Spot market activity has taken a nosedive, with ADA’s 24-hour trading volume plummeting 47.3% to $360 million. Derivatives metrics are also feeling the blues. According to Coinglass data, open interest has slightly decreased, and derivatives volume is down 42%. It seems like speculative interest has taken a vacation. 🏖️
Looking at the technical picture, ADA is still on a downward spiral, trading near its lowest level since mid-April. The price is below all significant moving averages, from the 10-day to the 200-day, indicating a strong bearish momentum. It’s like watching a sad movie where the hero just can’t catch a break.
The Bollinger Bands are narrowing, with the lower band around $0.5899 acting as nearby support. ADA is hugging this lower band like a long-lost friend, which usually means selling pressure is lurking around. 😬
Momentum indicators, on the other hand, paint a neutral to bearish picture. With a value of 32.8, the relative strength index is inching close to oversold territory but hasn’t shown any signs of a comeback yet. It’s like waiting for a bus that never arrives.
The moving average convergence divergence is still in negative territory, while the stochastic RSI shows that ADA is deeply oversold but lacks a definite bullish divergence. Although there may be a short-term rebound indicated by the Commodity Channel Index at -124, the general trend direction is still downward. It’s a rollercoaster ride without the thrill!
A bullish RSI crossover and fresh volume might just support a sustained move above $0.63. If ADA breaks above the 20-day estimated moving average close to $0.65, it could be on its way to the $0.70 resistance zone. But let’s not hold our breath!
Conversely, if low volume continues and rejection at the 10-day EMA around $0.6265 happens, it would validate the current downward trend. A deeper decline toward $0.55 might be on the horizon if the price fails to stay above the $0.59 support. Buckle up, folks!
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2025-06-20 08:34