Cardano joins Brave Wallet beta as ADA eyes recovery

Cardano has quietly been added to the beta version of Brave Wallet, giving the blockchain protocol direct exposure to the browser’s 88 million monthly active users.

The update was first spotted by a Cardano-focused X page on June 19, which shared a screenshot showing Cardano (ADA) live in the wallet interface. This follows an official announcement from May, when Input Output, Cardano’s core development firm, and Brave Software confirmed plans to integrate full Cardano support into Brave’s browser-native crypto wallet.

The integration allows users to send, receive, swap, and sign transactions using Cardano assets within the privacy-focused browser. It also lets Cardano owners manage tokens like Midnight’s NIGHT, engage with decentralized apps, and participate in governance.

Despite the update, which is expected to improve Cardano’s exposure massively, price action has yet to reflect a strong response. At press time, Cardano is trading at $0.6002, down 0.5% on the day and near the lower end of its 7-day range between $0.5913 and $0.6556.

Spot market activity has weakened, with ADA’s 24-hour trading volume falling 47.3% to $360 million. Derivatives metrics reflect this trend. According to Coinglass data, open interest has slightly decreased and derivatives volume is down 42%. This implies a decrease in speculative interest. 

Looking at the technical picture, ADA is still declining in a clearly defined downtrend, trading near its lowest level since mid-April. The price is below all significant moving averages, ranging from the 10-day to the 200-day, indicating strong bearish momentum.

The Bollinger Bands have been narrowing, with the lower band around $0.5899 acting as nearby support. ADA is hugging this lower band, which is usually an indication that selling pressure is present. 

Momentum indicators, on the other hand, show a neutral to bearish picture. With a value of 32.8, the relative strength index is getting close to oversold territory but hasn’t displayed any reversal signals yet.

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.

A bullish RSI crossover and fresh volume may support a sustained move above $0.63. ADA could move toward the $0.70 resistance zone if it breaks above the 20-day estimated moving average close to $0.65.

Conversely, a continuation of low volume and rejection at the 10-day EMA around $0.6265 would validate the current downward trend. A deeper decline toward $0.55 might be possible if the price fails to stay above the $0.59 support.