Cardano Price Recovery Falters Amid Whale Decline and Bearish Indicators
Cardano's price recovery has brought it back into focus as bulls attempt to extend the rally and push the price higher. However, recent whale activity indicates a decline in large ADA holders, with 30 addresses moving out of the 1 million-10 million ADA range.
This reduction in whale holdings could signal that larger market participants are using the rally to reduce exposure, potentially limiting upside and increasing the probability of a short-term pullback. The technical setup becomes more cautious when broader momentum signals are considered together.
Cardano's MVRV ratio has crossed below its 7-day moving average, and the Tom DeMark Sequential has printed a sell signal on the daily chart. If ADA is rejected near $0.20, traders could see the $0.17 channel midpoint tested first.