The Cardano price is at risk of a substantial decline because ADA Whales have sold 330 million coins during this market downturn.
Following a recent development in the ADA ecosystem, the Cardano price is presently characterized by a bearish outlook. Ali Martinez, a crypto analyst, disclosed that ADA Whales have liquidated a substantial quantity of coins during the current market downturn. This could result in significant sell pressure for the cryptocurrency.
The price of Cardano may decrease as ADA Whales dispose of their holdings
The price of Cardano may decrease as ADA Whales dispose of their holdings. Ali Martinez disclosed in an X post that these whales have sold more than 330 million coins and have not yet purchased the drop in the current market downturn, which is being driven by the Bitcoin price.

This indicates a bearish prognosis for Cardano, as such sales could incite a bearish sentiment among other investors, resulting in substantial selling pressure for the cryptocurrency.
The sentiment among these giants is bearish, as the IntoTheBlock data indicates. Cardano’s transaction volume has decreased by more than 8% in the past 24 hours, with $7.46 billion traded.
ADA experienced a substantial price decline after the crypto market’s sell-offs over the weekend, resulting in over $2 billion liquidation. The Cardano price plummeted by 36%, breaching critical support levels. By this, crypto analyst InvestingHaven observed that adverse signals continue to prevail and suggested that there may be additional downside potential.
“ADA’s Next Few Weeks Will Be “Epic”
In an X post, Sebastian, a crypto analyst, stated that the Cardano price will experience an epic period in the coming weeks. This occurred as he observed that ADA had closed a green daily candle and recorded an absurd bounce.
The analyst also observed that the Relative Strength Index (RSI) on the daily chart momentarily reached oversold territory and has since re-established itself. According to his analysis, a favorable reversal for ADA may be imminent. His accompanying chart indicated that Cardano could reclaim the psychological $1 level and surge to as high as $1.6.

Nevertheless, before that, crypto analyst BullishBanter proposed that the ADA price could surge to the lows of $0.75, followed by a reversal that aims for the $0.95 to $1.10 range. Cardano is trading at approximately $0.75, representing a 10% increase in the past 24 hours.