Cardano ADA Stuck Near Critical Support Zone

Cardano's ADA token is currently trading near an important support zone of $0.173, after suffering a correction of over 10% in the previous week.

The decline has been reinforced by selling among some of Cardano's largest holders, with bearish derivatives positioning and weakening momentum indicators also suggesting that traders remain cautious.

Santiment's Supply Distribution data shows that several categories of large ADA holders have collectively offloaded approximately 200 million tokens since August 11, indicating that some top-tier investors are lowering their exposure.

However, smaller whales have moved in the opposite direction, accumulating around 10 million tokens over the same period, although this buying represents only a small portion of the tokens distributed by larger wallets.