The cryptocurrency Cardano (ADA) has experienced a price drop of 10% over the past week amid significant sales by large investors. Let's examine what happened with ADA's price and what key levels to watch moving forward.
Cardano Price Dynamics
By mid-December 2024, Cardano experienced a notable downward trend. The price hit a low point in late December, after which a recovery peaked in mid-January 2025. Unfortunately, this recovery was short-lived, as the price fell sharply and somewhat stabilized by late January.
Whale Activity in the Market
Ali Martinez's report indicates that large investors, or whales, sold over 180 million ADA over the past week. This significant sell-off reduced holdings from 100 million to 1 billion ADA coins, clearly impacting market sentiment.
Key Levels to Watch
Analysis of support and resistance levels highlights important factors: temporary support was found in the 0.81–0.85 zone in late December and mid-January, while significant resistance emerged near 1.12–1.17 during mid-January peaks.
The future of Cardano remains uncertain. Continued whale selling could further suppress the price, while any reduction in selling pressure might create an opportunity for price stabilization or potential recovery. Investors should closely monitor critical support and resistance levels for potential market signals.
