Key points:
- Cardano ( ADA ) fell below $0.175 on Monday, a decrease of over 9% from last week.
- Large whales holding between 10 million and 100 million ADA tokens of Cardano have sold approximately 50 million tokens since November 4th, indicating a weakening of confidence.
- In the context of persistently bearish technical indicators, ADA is likely to fall further to $0.156, with a short-term resistance level at $0.183.
Cardano ( ADA ) continued to face pressure on Monday, trading at around $0.1748, and has recorded declines for five consecutive weeks.
The cryptocurrency fell by more than 9% last week, continuing the downward trend since early October, with selling pressure consistently exceeding buying interest.
Cardano Whales Sell 50 Million ADA Tokens
Cardano The largest investors continue to reduce their holdings, sparking concerns in the market about the short-term price prospects of this cryptocurrency.
According to the supply distribution data of Santiment, wallets holding between 10 million and 100 million ADA tokens have sold a total of approximately 50 million tokens since November 4th.
This decline indicates that, as the price of Cardano remains weak, this large group of holders has become increasingly cautious.
In addition to the distribution of whales, a broader range of on-chain and trading indicators, such as Cardano, also continue to reflect a cautious market sentiment.
The market summary for CryptoQuant shows that there have been a large number of whale orders in both the spot and futures markets for ADA, accompanied by overheating conditions and a seller-dominated market.
This combination indicates that large market participants are still active, but selling activities continue to outweigh buying interest.
Cardano Technology Outlook: ADA Shorts Aiming for the $0.156 Support Level
Due to five consecutive weeks of decline, the technical prospects for Cardano remain pessimistic.
As of Monday's writing, ADA was trading at $0.1748, still significantly below the moving average of the major indices ( EMA ).
On the 50-day period, EMA is at $0.209, on the 100-day period it is at $0.211, while the longer-term 200-day EMA is much higher, at $0.232.
The recent rebound attempts from below $0.180 have not changed the broader technical structure, indicating that this recovery may merely be a temporary consolidation rather than the beginning of a sustained bullish reversal.
The momentum indicator also shows continued weakness. The daily relative strength index ( RSI ) is hovering around 30, close to the oversold area, indicating that selling pressure still dominates.
At the same time, MACD is slightly negative, further reinforcing a cautious outlook.
If ADA is unable to attract stronger buying interest, sellers may push the price down to the support level of $0.156.
If it clearly falls below this area, the technical structure will further weaken, and it may cause Cardano to face a more significant pullback.
However, if buyers hold onto the current price level, Cardano may also attempt a short-term rebound. The first important resistance level is at $0.183, and ADA must once again exceed this level in order to initially improve momentum.
If it can continue to break through this level, buyers may set their sights on $0.209 for the 50-day EMA, followed by $0.211 for the 100-day EMA.
However, these moving averages form a dense resistance zone, which may attract new selling pressure.
Outside of this area, a 200-day EMA of around $0.232 represents another major obstacle. Additional resistance levels are at $0.236 and $0.245, and a more substantial rebound could ultimately bring the $0.296 region into view.
