Cardano (ADA), the 10th-largest cryptocurrency by market capitalization, finds itself at a critical juncture, trading within a crucial price range that will significantly impact its short-term price movement. Currently, ADA is mirroring the broader market sell-off, down 0.82% to $0.382, having fallen as low as $0.375 earlier in the day. This decline is part of a larger market trend, with Bitcoin slumping to a more than one-month low and the crypto market rally showing signs of fatigue.

According to data from IntoTheBlock, a notable 2.35 billion ADA were acquired by 159,400 addresses within Cardano's current range of $0.38 to $0.394, averaging out to $0.387 per ADA. This accumulation marks a key support zone for the ADA price. If the Cardano price declines further, market watchers and ADA holders might look to the next anticipated support zone, which lies between $0.373 and $0.38. This range could provide a safety net for the cryptocurrency, potentially curbing further declines.

On the flip side, if ADA's price rebounds from its current levels, it may face its next significant resistance between $0.394 and $0.437. Within this upper range, 2.64 billion ADA were bought by 206,880 addresses, with an average price of $0.414. This area could present a formidable challenge for upward momentum, requiring strong buying pressure to break through.

Currently, on-chain data suggests that the ADA price might be reaching a crucial juncture. The enormous volume of ADA bought at the highlighted price levels indicates significant support, but it might also suggest potential resistance that could slow down bullish momentum. Traders can keep an eye on these critical price points for cues as to ADA's next big move, as well as broader market trends and investor sentiment.

In conclusion, Cardano's price is at a critical crossroads, with 2.35 billion ADA in play amidst market volatility. The next move will depend on the interplay between support and resistance levels, as well as broader market trends and investor sentiment. Traders and investors must stay vigilant and adapt to changing market conditions to navigate this complex landscape.