In recent days, the native token Cardano (ADA) has come under renewed pressure, with its price sliding toward the crucial support level of around $0.60. On the surface, this appears bearish—yet a deeper look at on‑chain data suggests that major holders, commonly referred to as “whales,” are quietly accumulating, hinting at a potential turning point.
Weak price action meets strong accumulation
While ADA has struggled to establish a stable footing, the data reveals that large addresses—those holding between 1 million and 10 million ADA—added roughly 70 million ADA (approximately US$42 million) within the past 48 hours. This uptick in holdings has lifted the total ADA held by whales to its highest level in five months, signaling that these significant investors believe the $0.60 area may represent an attractive entry.
Technical indicators lining up
From a technical‑analysis standpoint, the MACD (Moving Average Convergence Divergence) histogram is showing shrinking red bars, which implies that downward momentum is abating. When combined with increased accumulation by whales, this may indicate the conditions for a reversal are forming.
Key support and possible recovery path
At the time of writing, ADA is trading near US$0.61, just above the $0.60 support. If this support holds, the first upside target is around US$0.62, followed by US$0.66—levels that, if breached convincingly, could trigger renewed bullish interest.
On the flip side, a breakdown below $0.60 could expose ADA to further decline, potentially toward $0.57 or even $0.54, undermining the rebound scenario.
Why this matters
When whales begin accumulating during sustained weakness, it’s often seen as a contrarian signal: while the broader market remains pessimistic, insiders may view current prices as value. This divergence can precede a shift in sentiment. Here’s why it’s significant:
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It suggests that large holders believe the risk‑reward at this level is favourable.
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The reduction in selling momentum (as indicated by MACD) means fewer market‑participants pushing the price lower.
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A successful bounce from support may attract new capital, reinforcing the recovery.
However, caution is still warranted—whale accumulation does not guarantee a price breakout, and broader macro or crypto‑specific headwinds could still outweigh the positive signals.
Final thoughts
In summary: ADA is at a critical juncture. The convergence of weak price action, strong accumulation, and technically diminishing selling pressure makes the $0.60 region one to watch closely. If the support holds and accumulation continues, a moderate rebound toward the mid‑$0.60s is plausible. Conversely, a breakdown could lead to deeper correction.
Whatever path unfolds, this episode underscores the importance of looking beyond headline price action and monitoring where the smart money may be positioning itself.
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