- Cardano is holding above $0.63 despite a 180 million ADA whale sell-off, with analysts eyeing a breakout if $0.65 resistance is breached.
- Strong futures interest and bullish technical patterns suggest a potential surge toward $0.73, provided ADA maintains support above $0.60.
Cardano (ADA) is holding steady above $0.63 despite a massive 180 million ADA whale sell-off that briefly shook investor confidence. While large holders trimmed their positions, market data reveals strong underlying optimism—especially from derivatives traders—hinting at a potential bullish breakout if resistance at $0.65 is breached.
Whale Sell-Off Meets Bullish Momentum
Over the past week, whale wallets offloaded more than 100 million ADA, raising concerns over short-term weakness. A total of 180 million ADA exited major wallets, typically a bearish signal that suggests big players are expecting price declines or rotating into other assets. However, ADA’s resilience—staying above $0.60 throughout the weekend—has countered some of that fear.
Interestingly, open interest in ADA futures surged to 986.66 million ADA, or around $611.47 million, indicating strong speculative interest. This points to a possible shift in sentiment, where traders are increasingly betting on a bullish continuation.
Technical Setup Signals Imminent Breakout
From a technical perspective, ADA is forming an ascending triangle—a classic bullish setup. The triangle’s upper boundary sits near $0.65, and analysts believe a breakout could catapult the price toward the $0.73 level.
Crypto strategist ALLINCRYPTO even compared the current chart structure to ADA’s 2020–2021 accumulation phase that preceded its surge to $3.
Bollinger Band indicators currently show low volatility, a setup that often precedes sharp price moves. At the same time, subdued volume at 46.4 million ADA could imply quiet accumulation by strategic buyers rather than a lack of interest.
What to Watch Next
If bulls can keep ADA above $0.60, there’s a strong chance the $0.65 resistance level will be tested—and possibly broken. Such a move would align with analyst forecasts for a 27% upside, potentially setting ADA on a course to reclaim $0.70 and beyond.
However, failure to hold the $0.60 level could expose ADA to increased selling pressure, with support seen near $0.55. For now, the market remains cautiously optimistic, especially with Bitcoin hovering above $83,000 and signaling a neutral-to-bullish stance for altcoins.
Cardano is at a technical crossroads—and what happens next at $0.65 could determine its direction for weeks to come.
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