Cardano (ADA) Price: Whale Wallets Sell 260 Million Tokens as ADA Falls – Watch These Levels

TLDR

• Cardano (ADA) has dropped below $0.28, down 2.81% on Tuesday
• Whale wallets have dumped 260 million ADA tokens since February 24
• Funding rates turned negative, signaling bearish sentiment from derivatives traders
• Price is capped below its descending trendline and key moving averages
• Key support sits at $0.25–$0.26; a break lower targets $0.24

Cardano (ADA) is trading at around $0.26–$0.28 on Tuesday, extending a recent slide that has put pressure on short-term support levels.

The drop follows a brief recovery attempt that failed to hold. ADA is now down 2.81% on the day.

Data from Santiment shows that whale wallets have been selling off their holdings. Large holders — those with between 100,000 and 100 million ADA — have collectively offloaded 260 million tokens since February 24.

That level of selling adds pressure to the market and reduces demand that might otherwise support the price.

On the derivatives side, funding rates on ADA turned negative on Monday. As of Tuesday, the rate sits at -0.009%, meaning short sellers are paying longs — a sign the market leans bearish.

Resistance Levels Holding Firm

ADA has been rejected repeatedly near the $0.29–$0.31 zone. Every push into that area has been met with selling.

The price also sits well below its 50-day and 100-day Exponential Moving Averages, which are at $0.30 and $0.37 respectively.

The Relative Strength Index (RSI) on the daily chart reads 43, which is below the midline of 50. That suggests buying pressure has not recovered from the recent dip.

The MACD indicator is close to the zero line, showing only weak upside pressure.

A daily close above $0.29 would be needed to ease the current bearish setup. A stronger move above $0.31 would be required to change the near-term structure.

Support Under Pressure

ADA is hovering just above a rising trendline near $0.25–$0.26. That level has held the price up in recent weeks, but it has been tested more frequently of late.

If the trendline breaks, analysts point to $0.24 as the next downside target — roughly a 10% drop from current levels.

Key Levels

• Immediate resistance: $0.29–$0.31
• Major resistance: $0.32–$0.33
• Trendline support: $0.25–$0.26
• Downside target: $0.24
• Deeper support: $0.22 (February 6 low)

The broader market backdrop has not helped. Ongoing geopolitical tensions have dampened risk appetite across assets, including crypto.

As of Tuesday, ADA remains below its descending trendline with no confirmed reversal signal on the daily chart.

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