Cardano (ADA) Funding Movements and Price Outlook, Potential Selling Pressure👇

Cardano (ADA) is currently facing a balance issue, and despite the recent price increase, the potential withdrawal of major investors brings uncertainty.

On-chain data reveals that whales holding a large amount of ADA are selling their tokens as they lose confidence in the future of the project.

Historically, such sell-offs usually precede price declines.

If the selling pressure from whales intensifies, ADA may fall back to the support level between $0.42 and $0.44.

Despite the bearish risks, ADA still rose nearly 5% last week, indicating that there is enough buying pressure to offset the sell-off.

In addition, looking at the long-term, according to technical indicators, ADA will stabilize at $0.46 by July, and the resistance level will turn into support.

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