Cardano Whales Gobble 40M ADA—Is $0.90 the Next Stop?

Crypto’s deep-pocketed players just snapped up enough Cardano to choke a blockchain—40 million ADA in one swoop. Now traders are eyeing the charts, wondering if this whale move cracks open the path to $0.90.

Price action’s been tighter than a banker’s grip on legacy fees, but the sudden accumulation hints at big bets behind the scenes. Technicals show ADA testing resistance levels that, if broken, could trigger algorithmic buying frenzies.

Of course, in crypto-land, ’whale activity’ could just mean one hedge fund intern fat-fingering a trade while hungover. But for ADA bulls, today’s volume spike smells like opportunity—or at least fresh leverage for the next round of hopium.

Source: Santiment

Interestingly, before the surge, neither price nor whale holdings had shown meaningful movement. That quickly changed.

This sudden alignment between whale activity and price action hinted at growing confidence, though actual market confirmation was still needed to sustain momentum.

ADA escapes the channel

Cardano (ADA) price broke the descending channel barrier and made a high NEAR $0.80 before hitting the level at $0.85.

At press time, the token hovered around $0.7944.

However, the MACD histograms started to narrow in suggesting that temporary momentum might be losing its traction. The primary support area at $0.75, respectively, coincides with the historic breakout area.

Should ADA trade above $0.75, it could show the bullish narrative and consolidate at $0.82 and then MOVE to $0.85.

Anything can be set to happen if $0.75 breaks, a larger retracement might happen, in which case WOULD look for a possible support zone at $0.70 in the next days.

Source: TradingView

Even though a pause occurred, the MACD lines were above 0, and therefore, demand was still greater than supply.

A close above $0.75 sustains the bullish trend for ADA; on the other hand, if ADA drops below $0.75, the breakout hypothesis would be critically challenged.

In the short run, ADA’s future will to a great extent be dependent on the performance of the altcoin at the support level in future periods.

ADA exchange liquidation map

On the derivatives side, CoinGlass data showed ADA’s last major long liquidation cluster formed around $0.789.

However, short positions exploded above this level, totaling about 40M cumulative shorts due to be triggered at $0.90.

From $0.805 to $0.875, short clusters formed mainly on the Binance and Bybit platforms.

Source: CoinGlass

If the price goes up, these shorts might initiate a domino effect of liquidations thereby increasing volatility of the market.

On the contrary, a dip below $0.775 puts longs under pressure, with positions heaped at Bybit and OKX at the bottom from $0.760.

In short, ADA’s next move will likely trigger swift liquidations either way, as large liquidity gaps flank both sides of the current range.