Can Cardano defend THIS key support after 69 mln whale move?
Whales, traders, and outflows all point to one thing. Read on to find out!
Key Takeaways
What drove Cardano’s rebound this week?
A $56.8 million whale transfer and $3.51 million Exchange Outflows boosted sentiment toward accumulation.
How are traders positioned on ADA now?
Binance Long/Short Ratio near 3 showed 75% long dominance, aligning with price support around $0.805.
Cardano [ADA] slipped to $0.805 on the 23rd of September before rebounding near $0.816 at press time, holding a key support that traders now see as pivotal.
Whales, investors, and traders aligned on the bullish side, adding weight to that outlook.
Whale and investor flows
Whale Alert reported a whale transferring 69.20 million ADA worth $56.81 million from Coinbase. However, the destination wallet address remained unknown.
Such exchange outflows often indicated accumulation by large holders.
CoinGlass data supported this. ADA Spot Inflow/Outflow showed $3.51 million worth of ADA leaving exchanges at press time. These steady outflows reinforced signs of accumulation.
At press time, Binance’s Long/Short Accounts Ratio for ADAUSDT stood near 2.99. That meant almost 75% of traders favored long positions, while only 25% held shorts.
The Long/Short Ratio for top traders also remained above 3, pointing to a strong bullish bias. This left derivative activity aligned with spot outflows, strengthening the bullish case.
ADA’s price action and technical view
The impact of market participants began to reflect on the altcoin’s price, as it registered a sharp recovery, rising from $0.795 to $0.816.
Despite the bounce, it still posted a 0.65% daily decline. Market participation dropped 22% compared to the prior day, showing weaker volumes.
Looking at the price recovery along with the bullish bets from whales, investors, and traders, one might wonder, is this the ideal time to go long on ADA, or is this the actual bottom of the cycle?
AMBCrypto’s technical analysis revealed further that ADA bounced off its ascending trendline and the horizontal level around $0.798.
The altcoin respected this support since late June 2025, and price action once again formed a bullish candlestick setup.
If this support held, ADA could rise 16% toward $0.95. A breakdown, however, might trigger a sharp sell-off toward $0.70 or lower.
The Supertrend indicator stayed red above the price, reflecting a broader bearish trend. The Average Directional Index (ADX) stood at 18, well below 25, suggesting weak momentum.
