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

Key Takeaways

Why is Cardano facing bearish pressure?

Whale wallets dumped over 100 million ADA in 72 hours, triggering a sharp decline and bearish sentiment.

What could happen if ADA breaks below $0.60? 

A major sell-off may follow, potentially driving the price down to $0.515.

The sentiment around Cardano [ADA] appears to be turning bearish, not just because it’s hovering below the 200 EMA, but also because whales and the current price action reinforce this outlook.

A well-followed crypto expert shared a post on X, noting that Cardano whale wallets holding between 100 million and 1 billion ADA have dumped over 100 million tokens in the past 72 hours.

Cardano [ADA] sentiment is turning bearish, not only because it’s trading below the 200 EMA, but also due to recent whale activity and price action. 

A popular crypto expert on X (formerly Twitter) reported that whale wallets holding between 100 million and 1 billion ADA have sold over 100 million tokens in the last 72 hours.

Whales and traders hold a bearish outlook

The recent ADA sell-off appears to be the main driver behind its price decline, with the asset posting three consecutive red candles over the past 72 hours.

Supporting this trend, data from CoinGlass shows that traders are aligning with whale behavior. 

ADA’s key liquidation levels are at $0.616 and $0.666, where long positions total $5.54 million and short positions reach $15.91 million, signaling a short-term bearish sentiment.

ADA price action and technical analysis 

The impact of whale and trader participation was evident in the asset’s price, as it plunged 1.10% over the past 24 hours and was trading at $0.627, at press time.

Meanwhile, market participation also declined during the same period, as reflected in the trading volume, which dropped by 25% to $1.17 billion.

Following the bearish activity of market participants, ADA’s price has reached its key level of $0.615, which now acts as a make-or-break point for the asset.

On the daily chart, this level appears to have a history of price reversals since the 10th of October 2025. Since then, the asset has retested this level more than four times, and each time, it has recorded a price reversal.

However, this time, the sentiment appears different as whales and investors hold a bearish outlook.

Based on the current price action, if ADA manages to hold this key support level again, there is a strong possibility that history will repeat itself and the price could see a notable recovery, potentially reaching the $0.68 level.

On the other hand, if the momentum fails and ADA falls below the $0.60 level, a massive sell-off could occur, potentially driving the price down to $0.515.

At the time of writing, ADA’s Average Directional Index (ADX) was 43.21, well above the key threshold of 25, indicating strong momentum that could support continuation of its current trend.

Meanwhile, the Supertrend indicator remains red and positioned above ADA’s price, confirming a persistent downtrend and strong selling pressure.