ADA Rebound: Whale Sales Slow, Derivatives Signal Bullish
Cardano price shows clear signs of rebound as major ADA holders reduce selling pressure and smaller investors step in. On-chain data reveals whales have offloaded over 4 million ADA recently, but sales have slowed, allowing retail accumulation to absorb supply. In the derivatives market, open interest rose 3.3% to $682.7 million, and taker buy dominance led to $270K in short liquidations versus $72K in longs, indicating bullish momentum. Technical indicators, including an RSI nearing oversold levels, support a recovery scenario. Key support at $0.50 holds firm, with resistance at $0.69 the next hurdle before testing $1. Traders should monitor whale activity and open interest trends for confirmation of a sustained rally.
Bullish
Slowing whale selling coupled with rising retail accumulation and a 3.3% increase in open interest point to strengthening bullish momentum. Aggressive taker buy dominance and significant short liquidations underscore buyers’ confidence, while technical indicators like RSI nearing oversold levels support a near-term rebound. Holding key support at $0.50 and breaking above $0.69 could trigger further upside toward $1, making this development bullish for ADA in both short and long terms.