Key Insights:
- Brave Wallet now supports Cardano, expanding access to 88M users.
- ADA price remains weak despite bullish Cardano news and developments.
- Technical charts show ADA stuck in a persistent downward price channel.
The addition of Cardano into the beta version of Brave Wallet has made it available on the protocol to the 88 million monthly active users of Brave. The community realized the feature on a hush-hush activation on June 19. It allows users to send, receive, exchange, and sign transactions on ADA and other native Cardano assets directly in the Brave browser, a privacy-centric browser.
The move is based on an earlier (announced in May) partnership between Brave Software and Input Output Global (IOG), the core development organization behind Cardano. The integration, which will be integrated into a popular Web3 gateway, can be viewed as a milestone on the way to mass exposure of Cardano.
Despite the many underlying reasons for the introduction of Brave, the price dynamics of ADA have not caught up with this good news, and the token has been skating around the bottom of its price range.
Price Action Fails to React to Positive Ecosystem Development
At the time of writing, the ADA is trading at $0.5454 on Binance, only slightly above its intraday lows of approximately $0.5419. Nonetheless, the bigger price trend is bearish. Since early April 2025, ADA has been cemented in a large-scale downtrend pattern, in a clear descending channel observable on the daily scale. Brave integration has failed to excite any significant buying momentum, and the price is languishing below the critical resistance of $0.63.
The chart reveals that the current price is at the Russell bar of the downward channel, hence it enjoys temporary support. However, there are no continuing signs of reversal. In the daily chart, the pattern of steady decline in highs and lows continues, which implies the dominance of sharp downward action.
The value of the Average Directional Index (ADX) is at 25.34, so ADA remains on a trending stage, but the degree of its force is not that intense. Significantly, the ADX has been increasing during the recent sessions, and that could indicate the intensification of the trend momentum, though in the short term, in a downward direction. This rise in ADX with no recovery of the price shows the presence of more and more bearish control in the market.
The Volume Delta information confirms that the sellers are active. The last bar depicts a net outflow of -1.59 million, and the volume imbalance is more negative. That indicates continued sell-side pressure despite otherwise positive fundamental news, such as the integration of Brave.
Liquidation Patterns Reflect Market Sensitivity
The ADA Total Liquidations Chart on Coinglass gives additional information on how the trader positions and their sentiment. The distribution of liquidation spikes in the past quarter can be characterized as coinciding with sudden changes in prices. A sharp, long liquidation cluster was observed on February 28 when ADA was marred with intensive volatility and plunged past the $0.70 mark. It was then followed by a small liquidation wave of early March, with a minor price recovery.
In recent times, liquidation has been low, with very limited surges in long and short positions. This is indicative of the fact that existing market players are becoming more conservative and do not intend to practice excessive leveraging in the very uncertain market conditions. The minuscule liquidation values confirm the view that traders are not betting big in any of the directions despite essential changes, e.g., Brave Wallet support.
The subdued response when Cardano launched its Brave Wallet was also different from other times when similar integration positively affected the price sentiment. The overall long-term implication of the enhanced accessibility through Brave is high. However, in the short term, the price activity remains below that of other Layer 1 tokens.
A union of technical resistance levels and macroeconomical headwinds can explain the retardation. As the rest of the crypto market has suffered capital outflows and remains relatively sidelined due to the uncertainty created by geopolitical events, appetite for risk-on in mid-cap altcoins such as ADA has been declining.
The bear price channel remains a significant challenge for ADA bulls. Until the price finally caps the breaks past the higher end of the channel, which is currently at around 0.63- 0.65, a testing of more downside remains likely.
