Cardano ADA Tumbles 68%, but 'Uptober' Brings Hopes for Recovery

Cardano's ADA token has had a rough year, plummeting 68% in the past 12 months. On September 28, 2026, its price sat at $0.247 after slipping 3.22% over the last 24 hours. This decline comes despite recent operational metrics showing positive returns in order books across various timeframes.

The token's prolonged bearish phase began in September 2025, when it reached a relative peak of $0.954, before plummeting to a bottom of $0.138 in June 2026. The breakdown of the 50-week moving average (50 MA), positioned at the time above $0.451, has also been a significant factor.

However, starting in July 2026, Cardano's price entered a gradual recovery phase, with the September close potentially marking the third consecutive month in the green for the asset. This recovery comes as the cryptocurrency industry prepares for 'Uptober', a period often associated with a seasonal bullish bias.