Cardano whales dump 50 million tokens amid bearish sentiment

Key takeaways

• Cardano (ADA) traded below $0.175 on Monday following a weekly drop exceeding 9%.
• Large investors holding between 10 million and 100 million ADA have sold approximately 50 million tokens since November 4, reflecting declining confidence.
• Persistent technical weakness leaves ADA at risk of sliding toward $0.156 support, with key resistance standing at $0.183.

Cardano (ADA) remained under sustained pressure on Monday, trading near $0.1748 after recording five consecutive weeks of declines.

The cryptocurrency fell over 9% past week, extending a broader downtrend that started in early October as persistent sell orders continue to overpower buying activity.

Cardano whales dump 50 million ADA tokens

Cardano’s largest holders have been actively reducing their positions, raising ongoing concerns regarding the asset’s near-term price direction.

According to Santiment’s Supply Distribution data, wallets containing between 10 million and 100 million ADA have collectively shed around 50 million tokens since November 4.

This steady sell-off indicates that large-scale holders are taking a cautious approach amid ADA’s prolonged price weakness.

In addition to whale distribution, broader on-chain and trading metrics reflect general market hesitation.

A market summary from CryptoQuant highlights significant whale orders in ADA’s spot and futures markets, accompanied by overheated conditions and strong sell-side dominance.

These factors indicate that while high-volume participants remain active, selling volume continues to outpace demand.

Cardano technical outlook: ADA bears target the $0.156 support

The technical chart for Cardano remains unfavorable as the asset struggles to recover from five straight weeks of losses.

As of Monday, ADA sits near $0.1748, remaining positioned well below its primary Exponential Moving Averages (EMAs).

The 50-day EMA sits at $0.209, the 100-day EMA is located at $0.211, and the long-term 200-day EMA sits higher at $0.232.

A minor bounce from levels below $0.180 has failed to change the macro technical picture, suggesting the move represents brief consolidation rather than a true trend reversal.

Momentum indicators further support a bearish outlook. The daily Relative Strength Index (RSI) hovers near 30, approaching oversold levels while confirming dominant sell pressure.

At the same time, the Moving Average Convergence Divergence (MACD) indicator remains slightly negative, reinforcing the soft market structure.

If buyers fail to re-enter the market, sellers could push the token down toward its horizontal support at $0.156.

A clear break below this floor would damage the technical setup further, opening the door for a deeper drop.

Conversely, a short-term recovery could develop if buyers manage to defend current price levels. Immediate resistance rests at $0.183, which ADA must reclaim to show an initial improvement in momentum.

A sustained move above $0.183 could allow buyers to target the 50-day EMA at $0.209, followed closely by the 100-day EMA at $0.211.

However, these EMAs form a dense resistance cluster that could prompt fresh selling pressure.

Above that zone, the 200-day EMA around $0.232 acts as another major obstacle. Higher resistance levels are positioned at $0.236 and $0.245, while a larger market recovery could eventually bring the $0.296 level into focus.