Introduction
Cardano [ADA] is under pressure after a massive sell-off by big holders, also known as whales. Over the past 48 hours, these whales sold more than 70 million ADA, causing the price to drop. At the time of writing, ADA was priced at $0.9071, down 4% in the past 24 hours. Many are now asking if Cardano can hold its key support level or if the price will fall further.
Source: TradingView How the Whale Sell-Off Hurt Cardano ADA
When whales sell large amounts of ADA, it often pushes prices lower. This sell-off caused ADA’s market cap to drop by 6.08%, down to $32.87 billion. Another key metric, called the Stock-to-Flow (S2F) ratio, dropped from 291.37 to 288.50. This shows that investors are losing confidence in the token. Traders in the derivatives market are also showing less optimism. For example, Binance’s Funding Rate, which measures how much traders are willing to pay to hold positions, fell from 0.01% to 0.0055%. On DYDX, the Funding Rate also dropped, going from 0.000334 to 0.000057.
A metric called the MVRV Ratio, which shows if holders are in profit or loss, also fell from 0.92 to 0.769. This means many ADA holders are now facing losses as the price keeps dropping.
Can Cardano ADA Bounce Back?
Cardano’s key support level is at $0.8335. This is a very important price point because it could stop ADA from falling further. If enough buyers step in, the price might bounce back. However, if ADA drops below this level, the price could fall even lower. For ADA to recover, the whale sell-off needs to stop, and new buyers need to show interest. Without these changes, a quick recovery will be hard.
VR Soldier Thoughts
As the VR Soldiers, we see Cardano’s situation as a critical moment. The whale sell-off has created significant pressure, but it also opens the door for new buyers to step in at lower prices. If ADA can hold its key support level at $0.8335, it might regain investor confidence and start to recover. However, the bearish momentum and lack of strong buying interest make this a challenging path. For now, caution is essential as the market looks for signs of stability. Always remember, this is not financial advice—do your research before making decisions.
Conclusion
Cardano is in a tough spot. The token needs to hold above $0.8335 to avoid more losses. The whale sell-off and bearish market conditions make recovery difficult, but a bounce is possible if support holds and buyers return. For now, the market remains uncertain, and investors should stay cautious.
The post Cardano Faces Pressure as Whales Sell 70M first appeared on The VR Soldier.
