Whales Sell Nearly 200 Million Cardano (ADA) in March
Cardano (ADA) is currently trading around a critical support zone at $0.68, after a decline exceeding 45% since March 3. The broader crypto market faces pressure from macroeconomic instability, impacting altcoins significantly.
- Bulls are attempting to stabilize price action after weeks of decline.
- Whale selling intensified in March, with nearly 200 million ADA offloaded, signaling declining confidence among large holders.
- If ADA fails to hold the $0.62 level, a drop to the $0.57–$0.55 range may occur, indicating deeper bearish momentum.
- Critical indicators, including the 200-day moving average and exponential moving average, have flipped to resistance around $0.72.
- The upcoming sessions will be crucial for bulls to reclaim momentum or risk further declines.
Market sentiment remains fragile, with immediate buying pressure needed to prevent additional losses.
