Cardano News Update: Large Holders Transfer $22.8M ADA to Vaults Amid Bearish Short-Term Sentiment
- Cardano (ADA) fell below $0.58 as bearish momentum and rising short positions drive a 10% weekly decline, with Santiment data showing weakened on-chain activity. - Whale activity surged, moving $22.8M ADA to private wallets, suggesting institutional accumulation amid a $3.02M net outflow from exchanges. - Technical indicators highlight a critical $0.64 support level for potential recovery, while Input Output's Ouroboros Phalanx upgrade aims to boost scalability and transaction speeds. - Derivatives trade
Cardano (ADA) has experienced a significant drop over the past few weeks, falling below $0.58 on Monday as bearish sentiment intensified and short positions increased,
Technical analysis further supports the bearish scenario. Last week, Cardano failed to break through the crucial $0.70 resistance, and now risks sliding to $0.49 as indicators like the RSI (32) and MACD (with converging green bars) point to weakening bullish momentum. A move above the 20-day EMA at $0.64 could, however, spark a rally back toward $0.70,
Despite the recent slump, blockchain data suggests possible accumulation is underway. Large holders have moved $22.8 million worth of ADA—about 37.5 million tokens—from exchanges such as Coinbase to private wallets,
Futures data also points to growing optimism. Over the past 90 days, taker buy dominance shows that buyers have been active, with derivatives traders taking advantage of price drops and building momentum toward resistance. This trend coincides with Input Output’s recent unveiling of the Ouroboros Phalanx upgrade, which aims to improve Cardano’s security and boost transaction speeds by up to 30%, according to a TradingView report
Although the short-term outlook remains negative, some analysts believe ADA could stage a comeback. If buyers manage to hold the $0.50 support, a breakdown could see a move toward $0.40, while a sustained push above $0.70 might indicate a broader rally among altcoins, as highlighted by Cointelegraph. The balance between whale accumulation, technical signals, and upcoming network improvements will play a key role in shaping Cardano’s future direction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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