Cardano Whale Sells 380 Million ADA Over Three Weeks, Price Under Pressure Hovering at $0.26, Long-Short Divergence Intensifies

Gate News, March 16 — Cardano’s recent price has experienced a slight rebound, but on-chain data shows that large holders continue to reduce their holdings, which remains a pressure on market sentiment. Although the short-term trend has slightly improved, ADA’s overall structure remains weak, and the market remains cautious about the sustainability of the rebound.

On-chain data indicates that since February 24, whale addresses holding between 10 million and 100 million ADA have collectively sold approximately 380 million tokens, worth over $103 million. This nearly three-week-long large-scale reduction in holdings is seen as a significant signal, suggesting that some key holders have lost confidence in Cardano’s short-term prospects.

Historical experience shows that concentrated selling by whales often amplifies market volatility, as small and medium investors tend to interpret this as a potential bearish signal and follow suit by reducing their holdings. This continuous selling also suggests that some long-term holders may be reassessing their short-term growth expectations for ADA.

Meanwhile, on-chain profit data reflects changing investor sentiment. Currently, most ADA holders are still at unrealized losses, and the overall profit ratio in the market is low. In this context, some investors choose to sell assets at a loss to avoid the risk of further declines, a behavior often seen as panic selling.

From a price structure perspective, Cardano is currently trading around $0.264, below the resistance level of $0.269 but slightly above the key support zone at $0.254. Additionally, ADA’s price remains below the 20-day exponential moving average (EMA), indicating that the current downtrend has not yet been effectively reversed.

If whale selling pressure persists, the price may test the $0.254 support level again. Once this level is broken, the market could further decline to around $0.243, increasing floating losses for some investors.

However, if buying momentum gradually recovers and pushes the price above the $0.269 resistance, ADA could challenge the $0.285 zone. A successful breakout of this level may weaken the current bearish outlook and improve the market structure.