Cardano Whales Accumulate as ADA Struggles Below Key Resistance

• Although retail traders are still adding to the selling pressure, major holdings see a quite different picture in the on-chain data.
• The market is faced with significant concerns as the gap between wholesale accumulation and retail selling continues to expand.

Amid persistent market volatility, the Cardano price has been strongly under negative pressure for quite some time. ADA is down nearly 1.7% over the past 24 hours, trading around $0.2656 and continuing to underperform the broader crypto market. Moreover, there has been a 28.3% increase in trading volume, which may indicate increased activity and, in the near run, further solidify bearish dominance.

Although retail traders are still adding to the selling pressure, major holdings see a quite different picture in the on-chain data. Even though the price has been relatively flat, whale wallets have been actively adding ADA, which indicates a rise in long-term confidence.

Large Holders Push ADA Reserves

The market is faced with significant concerns as the gap between wholesale accumulation and retail selling continues to expand. Large Cardano holders seem to be acting in a completely different way than retail traders, even if the price of ADA is still stuck at its lower levels. New statistics from Santiment shows that the total number of ADA tokens held by wallets with a minimum of 1 million ADA has surpassed 25 billion for the first time.

Large Cardano holders, often called “whales” or “ADA millionaires,” are actively buying ADA despite the price decrease, according to this data. Growing faith in the asset’s long-term potential is often shown when whale wallets gradually expand their holdings under bad market circumstances.

Though aggressive whales are piling in, the short-term weakness in the Cardano price is becoming more apparent as the technical structure starts to lose steam around an important support zone. After failing to maintain its recent rebound into the $0.29 resistance level, ADA is pulling back on the 4-hour chart. Curiously, a bullish reversal setup—a parabolic formation—remains visible in the larger structure.

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