Whales Dump 30M ADA; Bearish EMAs Signal Slide Toward $0.70
Cardano’s ADA faces renewed selling pressure after major holders offloaded approximately 30 million ADA over the past week. Trading volume spiked 69% to $1.45 billion, reflecting heightened activity. Key exponential moving averages (EMAs) have crossed bearish, indicating that sellers control short- to mid-term momentum.
Immediate support lies between $0.80 and $0.78. A break below this zone could send ADA toward a higher-low near $0.70, with further downside risk at $0.57. Resistance remains in the $0.92–$1.00 range, where whales began selling their holdings.
Liquidation data shows around $17 million in shorts clustered at $0.82–$0.85, compared with smaller long exposure near $0.78. A rapid short squeeze could push ADA back above $1.00, but current selling intensity suggests bears remain in control.
Traders should manage risk with stop-loss orders below $0.76, monitor on-chain whale flows and EMA behaviour for reversal signals. If demand resurfaces near $0.57, accumulation may present a tactical buying opportunity.
Bearish
Heavy whale selling of 30 million ADA and a bearish EMA crossover have eroded short-term bullish momentum, creating a bearish outlook for ADA. Historically, large-scale whale dispositions—such as those seen during Q1 2021—triggered multi-week corrections exceeding 40%. The recent 69% volume surge and $17 million in concentrated short positions at $0.82–$0.85 heighten the risk of further downside if support at $0.80–$0.78 fails to hold. Although a short squeeze could propel ADA above $1.00, current selling intensity and EMA signals favour continued declines. In the near term, traders are likely to protect gains with tight stops and await clear reversal cues. Over the longer term, renewed accumulation near $0.57 could signal a bottom if broader market conditions improve and whale selling abates.