Cardano Whales Flee as Price Plunges Below $0.20

Large Cardano holders have begun reducing their positions after the market's recent local rally. According to blockchain analyst Ali Martinez, the number of wallets holding between one million and 10 million ADA has fallen from 2,370 to 2,340 in just nine days.

This drop is significant, as it indicates that whales are taking profits at the peak and leaving the market without large capital backing. The Cardano price has immediately reacted to this pressure, falling from $0.202 to $0.188.

The ADA price's next move depends on whether buyers can hold their ground under two key scenarios: an intermediate pullback or a deep correction. If the current pressure persists, the price could slide deeper into the trading range and reach the mid-range support level of $0.170. A break below this threshold could lead to a full trend reversal.

The market's on-chain metrics have deteriorated significantly, with an avalanche-like increase in exchange supply producing a death cross on the chart. The MVRV ratio has crossed its seven-day simple moving average, indicating that whales are exiting the asset now due to exhausted upward momentum.