- Cardano whales sold more than 110 million ADA in five days, while daily active addresses fell 41.36% to 15,977.
- ADA trades near $0.239, with $0.24 as a critical support level and $0.21 as a potential downside target.
- ADA remains below its 50-day moving average near $0.252 but above its 200-day average around $0.237.
Cardano faces renewed downside pressure as large holders sell more than 110 million ADA in five days, according to analyst Ali Charts. Daily active addresses have also dropped 41.36%, falling from 27,248 to 15,977. With ADA trading near $0.239, the analyst identified $0.24 as a critical support level.
Whale Selling and Network Activity Raise Concerns
Ali Charts reported that Cardano whales have reduced their holdings by more than 110 million ADA over five days. The selling comes as the token approaches support near $0.24. Meanwhile, daily active addresses fell from 27,248 to 15,977, representing a 41.36% decline.
Ali Charts linked the drop in network participation with continued selling by large holders. The analyst warned that ADA could face a deeper correction if it loses support near $0.24. A break below that level would put the rising channel’s lower boundary near $0.21 in focus.
ADA Price Retreats From Recent Highs
ADA has pulled back after rallying from its June lows near $0.14. The token stabilized around 0.15–0.17 before recovering through August and September. The rally pushed ADA above $0.196 and $0.215 before reaching approximately 0.27–0.28 in October.
However, the latest decline has brought the price to around $0.239. The chart places immediate support between $0.237 and $0.233. If selling intensifies, further downside levels include $0.215 and $0.196.
Resistance sits between $0.252 and $0.271. A recovery above $0.252 could open another attempt toward the upper end of that range.
Moving Averages Highlight Key ADA Levels
ADA trades below its 50-day moving average at approximately $0.252. However, the price remains slightly above its 200-day moving average near $0.237. The 50-day average reflects weakening short-term momentum, while the 200-day average remains a longer-term reference.
Trading volume has increased during major rallies and sharp declines, with the latest reading at approximately 557.56 million ADA. A decisive break below $0.233 could expose $0.215. Conversely, reclaiming $0.252 could strengthen the recovery toward $0.271.
