100M ADA sell-off sparks bearish wave – Is Cardano in trouble?

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Key Takeaways

Why is Cardano facing bearish pressure?

Well, folks, it’s the whales again. These big crypto fish have dumped over 100 million ADA in just 72 hours, and-surprise, surprise-the price is taking a dive. The market sentiment is starting to look more like a rainy day than a sunny stroll.

What could happen if ADA breaks below $0.60?

If ADA falls below $0.60, we might be looking at a catastrophic sell-off, which could push the price all the way down to $0.515. It’s like watching a plane slowly spiral towards the ground. 🙃

The sentiment surrounding Cardano [ADA] is starting to look as gloomy as a storm cloud over the ocean. It’s not just because it’s struggling below the 200 EMA (which, by the way, is never a good sign). Nope, it’s also the whales making waves-literally.

Apparently, a well-known crypto expert took to X (formerly Twitter) to spill the beans, revealing that whale wallets holding between 100 million and 1 billion ADA have unloaded over 100 million tokens in the last 72 hours. Talk about a fire sale! 🦈💸

Whales and traders hold a bearish outlook

It seems the whales have spoken, and the price has listened. The recent ADA sell-off is definitely the main culprit behind its price slump, with the asset flashing three consecutive red candles like a traffic light screaming “STOP!”

And you know what they say, when the whales move, the minnows follow. Data from CoinGlass shows that traders are practically in lockstep with the whale behavior. It’s like watching the herd mentality in action, and guess what? They’re all heading for the exit.

ADA’s liquidation levels sit at $0.616 and $0.666, where long positions are worth a measly $5.54 million and short positions are a whopping $15.91 million. So yeah, the short-term sentiment is definitely leaning toward the “sell” side.

ADA price action and technical analysis

The bears are having their day as ADA’s price fell 1.10% over the past 24 hours, trading at $0.627 at press time. And while the price is sinking, so is the market participation. Trading volume dropped by 25% to a humble $1.17 billion. Ouch.

At this point, ADA has hit a critical level of $0.615, a point that could make or break the asset’s future. It’s like the line between success and a sad, slow fade into oblivion. This price point has been a historical reversal zone since October 10th, 2025. The asset has tested it more than four times, and each time, the price bounced back. So, is this the magic number? Or is it just the calm before the storm?

However, there’s a catch. The sentiment feels different this time. The whales are leaning bearish, and it’s hard to ignore that ominous vibe. 🐋⚠️

Here’s the million-dollar question: Will ADA hold this critical support level? If it does, we might just see a miracle recovery, and it could shoot up to $0.68 like a rocket. But if the bears have their way and the price breaks below $0.60, expect a massive sell-off, possibly sending ADA crashing down to $0.515. 😬

At the time of writing, ADA’s Average Directional Index (ADX) sits at 43.21, way above the key threshold of 25, which indicates that the momentum is strong. So, buckle up. The ride isn’t over yet.

Meanwhile, the Supertrend indicator is still flashing red, and it’s sitting right above ADA’s price. That’s a clear signal that the downtrend is strong and the selling pressure is relentless. Hold on tight, this could get bumpy.

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2025-10-30 23:00