- Whale activity spikes as 530 million ADA move in two days, causing renewed fears about large-scale selling pressure.
- Technical support at $0.85 remains crucial, while RSI oversold conditions could lead to a possible short-term rebound.
Cardano (ADA) is trading at $0.8664, down 2.06% in the last 24 hours. Over the past week, ADA has dropped 2.42%, while its monthly performance shows a 6.9% decline.
However, on a six-month horizon, ADA is still up 16.40%, and over the past year, it has surged 141.79%. Its market capitalization currently stands at $31.08 billion, with daily trading volume at around $1.03 billion.
Speculation around ADA continues to fuel debate
Some analysts and influencers have suggested that Cardano could potentially reach $20, even though the token currently trades under $1. More moderate projections, such as those reported by NewsBTC, point to a possible recovery to the $3–$6 range if market conditions align with a repeat of the 2021 rally.
Recent reports highlight growing whale activity, with 530 million ADA moved in just 48 hours, sparking concerns among investors about selling pressure. At the same time, trading volume has dropped 36%, which raises questions about liquidity and retail participation in the short term.
ADA is showing strong support around $0.85, with resistance near $0.90–$0.93. Indicators such as the RSI suggest oversold conditions, which could provide grounds for a rebound. If ADA breaks above $0.93, the next target lies near $1, while a failure to hold support could drag the price back toward $0.80.
ETHNews prediction: If buyers defend the $0.85 zone, ADA could attempt a rally to $0.95–$1.00 in the coming week. Conversely, if bearish pressure increases, a correction to $0.80 is possible before recovery attempts.
