Cardano shares are not listed on traditional exchanges, but the digital-asset market price for Cardano’s token, ADA, slipped again amid lingering fallout from a recent wallet security incident. At the time of writing, ADA was trading at $0.1445, down 1.3% on the day and 10.8% over the past week, after a broader pullback that has weighed on sentiment for about a month.
While the decline remains the dominant backdrop—ADA is down 38.6% over the past month and more than 95% below its September 2021 all-time high of $3.09—technical momentum indicators are beginning to show signs that selling pressure may be losing intensity. Investors are now focused on whether ADA can stabilize near a nearby support area following the SecondFi wallet exploit.
Key takeaways
- Price move: ADA was around $0.1445, down 1.3% in the last 24 hours and 10.8% over seven days.
- Catalyst: Market uncertainty remains tied to the SecondFi wallet exploit, which exposed a deterministic nonce derivation flaw in wallet signing.
- Momentum shift: RSI readings suggest ADA is near or within oversold territory, while MACD is turning positive—signs that bearish momentum may be fading.
- Key implication: A break below the immediate support zone near $0.1387 could extend losses, while a move above resistance around $0.1739 would improve the odds of recovery.
What drove the market concern after the SecondFi exploit
According to the report linked by Invezz, the SecondFi wallet exploit accelerated negative sentiment by resulting in the theft of about 16 million ADA. The company said the incident involved wallet software vulnerabilities rather than a weakness in the Cardano blockchain protocol.
SecondFi’s forensic review, as described in the article, pointed to a deterministic nonce derivation flaw in its wallet signing implementation. The company stated that the weakness could allow attackers to reconstruct private keys using publicly available blockchain data, leading to unauthorized access to affected wallets.
The exploit reportedly unfolded in three automated waves, with two threat actors draining the 16 million ADA from 374 wallet addresses, while the broader footprint of vulnerable accounts ultimately extended to 3,072 wallets. The company also said it performed an emergency containment sweep during the fourth wave, rescuing and isolating roughly 129 million ADA in a secure third-party custodian vault before remaining addresses could be exploited.
SecondFi later outlined a recovery plan that included completing a final balance snapshot on June 26. The article said the company expected to spend about one week building its recovery mechanism, followed by another week of security testing. If testing is completed successfully, the report indicated reimbursements to affected users would begin roughly two weeks after the snapshot.
For users, the incident also brought new guidance: SecondFi advised affected customers not to sign transactions from compromised addresses and to create new wallets using fresh recovery phrases until official instructions for recovery are issued.
What the technical indicators say about ADA’s near-term setup
Although the underlying trend described in the article remains bearish, traders appear to be increasingly focused on technical levels, particularly as momentum indicators approach oversold conditions.
According to the article, ADA is trading below multiple exponential moving averages across several timeframes, including the 10-day, 20-day, 50-day, 100-day and 200-day EMAs. That alignment typically signals that the prevailing trend has not yet flipped to bullish.
Momentum indicators, however, are closer to a potential turning point. The 14-day relative strength index (RSI) is reported at 30.26, having risen from 28.28, placing ADA just above oversold territory. On the weekly timeframe, RSI is described as 28.14, which the article characterizes as deeper in oversold conditions. In practical terms, the readings suggest selling pressure has become stretched, but they do not confirm that a trend reversal has already begun.
The article also reported that the moving average convergence divergence (MACD) has started turning positive. That is consistent with bearish momentum easing even if price remains below major resistance levels.
Positioning and on-chain signals: still cautious, but not purely defensive
In addition to price-based indicators, the article cited derivatives and on-chain measures that suggest sentiment is mixed. The long-to-short ratio was described as approximately 0.72, implying that short positions still outnumber longs. Funding rates were also reported as slightly negative, indicating that bearish traders continue to dominate perpetual futures markets.
At the same time, the article said on-chain activity has increased from larger investors, with sizable spot-market purchases suggesting some “whales” may be accumulating ADA during the recent decline. This combination—cautious derivatives positioning alongside reports of larger spot buying—often points to a market that is still hedging, but where some participants are willing to pick up exposure at lower prices.
Key levels traders are watching
According to the article, ADA is approaching a critical support zone around $0.1387, near the recent 24-hour low of $0.1418. A decisive move below that area could expose the token to further downside.
On the upside, the first major resistance cited is $0.1739. A daily close above that level would strengthen the recovery case and may shift attention to the next resistance area at $0.1895. The article also noted that these levels roughly align with ADA’s recent weekly trading range, where it moved between $0.1397 and $0.1627.
Going forward, investors will likely watch for two things: confirmation from technical levels—especially whether ADA holds near support or reclaims resistance—and any progress from the SecondFi recovery timeline, including security testing and subsequent reimbursements. Additional market sensitivity could also arise as traders digest whether oversold momentum can translate into a sustained rebound rather than a short-lived bounce.
