Cardano Whales Gobble 420M ADA Despite Price Stagnation—Are They Seeing Something Retail Isn’t?

While retail traders panic-sell over Cardano’s sideways movement, deep-pocketed investors just swallowed 420 million ADA tokens in a single feeding frenzy. The buy-up comes as ADA struggles to break past key resistance levels—proving once again that crypto’s ’smart money’ plays a different game than the rest of us.

Timing the bottom or doubling down on sunk cost fallacy? Only the blockchain knows for sure. Meanwhile, your average trader is left deciphering whale moves between sips of overpriced artisanal coffee.

One thing’s clear: when institutions zig while price zags, it’s either the smartest contrarian play of Q2... or another reminder that crypto markets run on hopium and herd mentality. Place your bets.

Meanwhile, Cardano’s price has been struggling to break out of a key level for the past 5 weeks. Right now, ADA is stuck under the $0.70 level and has not yet been able to move higher despite whales buying heavily into the token.

At the time of writing, Cardano is trading at $0.67, slightly under the $0.70 support it was holding earlier in the week. The coin briefly touched $0.74 but dropped back, keeping it stuck in a tight trading zone.

If Cardano breaks above $0.74, it could start a new uptrend and push toward $0.80. But for now, that breakout has not happened. The coin needs a strong momentum to leave the current range and start gaining.

The Relative Strength Index (RSI) on the daily chart shows that ADA is now in the positive zone and NEAR a two-month high, according to TradingView. That means buyers are getting stronger, and the trend could be shifting.

If the price drops below $0.66, it could make investors spectacle to buy more. A fall below this level might send ADA down to $0.60, which would weaken the current optimistic view and change the expectation for a bullish trend.

Whales are often trendsetters in crypto. Continuous buying by them means that they think Cardano has long-term value. Their behavior also affects others’ sentiments towards the coin, especially when the general market is looking for leads.

Also Read: Cardano Founder Charles Hoskinson Says ADA Could Reach $10