Cardano (ADA) is experiencing significant whale activity as large investors holding between 1-10 million tokens have sold over 140 million ADA in the past two weeks, according to on-chain data highlighted by crypto analyst Ali Martinez. This substantial selling represents clear profit-taking behavior among whales who accumulated during earlier price levels.
Despite this heavy selling pressure, ADA has maintained remarkable stability, trading around $0.87 and showing resilience as smaller buyers absorb the supply. The cryptocurrency recently peaked at $0.8941 before experiencing some volatility, but has maintained support above $0.8840.
Technical analysis reveals bullish signals with ADA regaining the $0.85 support zone aligned with the 20-day exponential moving average. The cryptocurrency broke out of a descending channel pattern, and the Parabolic SAR indicator has flipped to bullish. Short-term moving averages have started sloping upward, suggesting potential momentum toward testing the $0.90-$0.95 resistance range.
Fractal patterns identified by analysts suggest even more ambitious targets. Historical data shows that previous ADA cycle bottoms triggered gains of 260% and 360%. If these patterns repeat, ADA could target $1.86 in coming months, with a sustained close above $1.00 providing technical confirmation of this bullish fractal development.
Exchange flow data shows mixed signals, with net outflows of $644,000 on September 11 indicating cautious accumulation. Trading volume has dropped 6.76% to $1.23 billion, likely due to investor caution amid whale activity. However, community sentiment remains overwhelmingly bullish, with 88.4% of voters in a recent poll expecting ADA to reach $1.