Cardano’s price [ADA] was trading near $0.2768 at press time after rebounding from the $0.254–$0.260 support band, with the same absorbing selling pressure following February’s sharp drop.
Previously, the price briefly touched $0.2194, marking the cycle low before buyers stepped in. Since then, however, ADA has formed a sequence of higher lows, alluding to gradual accumulation.
At the time of writing, the price was challenging the $0.287 resistance, while the broader ceiling near $0.302 continued to cap upside attempts. Bollinger Bands revealed tightening volatility, with the price pushing above the middle band around $0.2646 – A sign of strengthening bullish momentum.
Meanwhile, the RSI at 68.55 seemed to be approaching overbought territory, signaling strong buying pressure but possible exhaustion ahead. The MACD was positive, with rising histogram bars supporting upward momentum.
As traders defend the $0.26 support, a breakout above $0.287–$0.302 could attract momentum buyers, while rejection may trigger consolidation back towards $0.254.
Whale supply shift adds uncertainty to ADA’s rebound
With Cardano [ADA] approaching the $0.287 resistance zone, whale positioning can add another layer to the market structure.
In fact, Santiment revealed that large wallets holding over 1 million ADA reduced balances from 13.73 billion to about 13.42 billion ADA. This roughly 130 million ADA decline unfolded over the past week, following the previous accumulation of about 454 million ADA during February’s rebound from $0.219.
While such a reduction was notable, the broader distribution remains highly concentrated among large holders. At the same time, exchange inflows did not spike, suggesting that these tokens were not aggressively sold on the open market.
Instead, whales appeared to be redistributing liquidity or rotating positions. As ADA tests higher resistance levels, this measured repositioning may reflect profit management rather than a decisive shift towards distribution.
Retail holders accumulate despite market fear
ADA has continued to trade near $0.2795, continuing its rebound from the $0.2459 capitulation low, which marked the 100% Fibonacci retracement. From there, buyers reclaimed key levels sequentially.
It first recovered $0.2537 (78.6%) and $0.2617 (50%), before pushing through to $0.2700 (23.6%).
This steady hike now places ADA directly under the $0.2849 extension resistance, where the next directional test is. Meanwhile, the RSI around 69 hinted at strong bullish momentum. This, despite the overbought reading alluding to potential short-term cooling.
If bulls sustain pressure and secure a close above $0.2849, the structure will open a path to $0.2970. However, if momentum stalls, traders will likely watch $0.2700 as the immediate support that must hold to preserve the recovery structure.
Final Summary
Cardano [ADA] has maintained a constructive recovery structure near $0.28 as higher lows and strengthening momentum keep the market focused.
Altcoin faces a decisive test where whale liquidity rotation and retail accumulation will likely determine whether the recovery extends towards $0.2970.
Comments are closed.