Cardano price is under pressure, but its largest holders are buying aggressively into the dip. Whales and sharks have accumulated more than 819 million ADA, signaling strong conviction beneath the surface volatility and hinting at a potential long-term reversal.
Summary
- Whales and sharks added 819.14 million ADA over six months, despite a 71% price decline.
- ADA is trading around $0.29, facing rejection near the $0.30 psychological barrier and upper Bollinger Band.
- While support sits at $0.2520, a slightly negative CMF shows short-term selling pressure persists.
Cardano whales and sharks go on a buying spree
Data from the on-chain analytics platform Santiment reveals a striking trend: wallets holding between 100,000 and 100 million ADA have been consistently stacking the token for the last six months.
This period saw ADA’s price endure a punishing 71% decline, falling from $0.90 to roughly $0.26.
Despite this capital erosion, these key stakeholders added 819.14 million ADA to their portfolios, representing a 1.6% increase in their total share of the circulating supply.
Valued at approximately $213.9 million, this concentrated buying during a steep drawdown is a classic signal of a market bottom, as high-conviction holders absorb the liquidity left behind by panicked sellers.
Cardano price at a crossroads
The ADA/USDT daily chart illustrates a market struggling to translate this whale accumulation into immediate upward momentum.
Currently trading near $0.2935, the price is hovering just above the 20-day Simple Moving Average (SMA) of $0.2753. Recent price action shows a clear rejection at the upper Bollinger Band near $0.2985, identifying it as the immediate ceiling that bulls must shatter.
While strong horizontal support has been established at the $0.2520 level, the Chaikin Money Flow (CMF) remains slightly bearish at -0.04. This negative reading suggests that despite the whale activity, there is still enough short-term distribution from smaller participants to keep the price suppressed.
For a definitive bullish flip, ADA needs a sustained daily close above the $0.30 psychological barrier.
If it can maintain its position above the 20-day SMA, a retest of the $0.32 resistance is likely, though a slip below $0.25 would signal that the accumulation phase may need to extend further before a breakout occurs.
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