Cardano Struggles to Break $0.65 Resistance Following 180 Million ADA Market Sell-Off
Cardano (ADA) faces significant selling pressure as it approaches the $0.65 resistance level, with recent on-chain data revealing a 180 million ADA sell-off. The cryptocurrency’s price action suggests weakened bullish momentum amid broader market uncertainty.
- Cardano holds above $0.63 despite a 180M ADA whale sell-off shaking confidence.
- Open Interest hits 986.66M ADA ($611.47M), hinting at strong bullish positioning.
- A breakout above $0.65 could trigger a surge toward $0.73, analysts predict.
Cardano (ADA) held steady above $0.63 on April 21, despite recording a 0.4% daily surge. Over the weekend, ADA’s resilience became evident as it managed to stay above the critical $0.60 threshold, brushing off political noise tied to founder Charles Hoskinson’s comments regarding Donald Trump.
Recent price action suggests mixed market sentiment, as analysts’ bullish expectations clash with bearish whale behavior. Despite a minor rally in top altcoins over 24 hours, a concerning 180 million ADA sell-off by whales raised doubts about the coin’s short-term strength and capacity for sustained upward momentum.
Analyst Forecasts vs. Whale Movements: What’s Next for ADA?
Crypto analyst Ali Martinez highlighted that Cardano remains in a consolidation phase, forming a triangle pattern that could catalyze a 27% price move. However, Martinez also noted over 100 million ADA were offloaded by whales in the past week—a typically bearish signal, as large investors reduce holdings.
Meanwhile, Optimism brews in the derivatives sector. According to CoinGlass, Open Interest in ADA futures reached 986.66 million ADA as of Friday, equivalent to $611.47 million at current market prices. This reveals strong investor positioning for a potential rebound, suggesting a bullish outlook despite current resistance zones.
Technical charts show ADA forming an ascending triangle, which could act as a launchpad toward the next resistance level at $0.73. Analysts are growing increasingly bullish on the long-term view. Crypto strategist ALLINCRYPTO shared comparisons between the current setup and ADA’s 2020–2021 consolidation before its historic surge to $3.
Cardano Technical Analysis: Breakout Eyes $0.65 Resistance
The Cardano was almost US$0.6367 as the week began, and its 4-day Simple Moving Average was initially resistance. The flat line for SMA displayed the market’s guesswork nature. At the same time, SMA for 60 days over $0.7092 confirmed that a deeper downtrend had been lasting thus far and covered the price structure of ADA.
Bollinger Band Percent indicators show suppressed volatility at -0.0088, reflecting low-range price activity just beneath its average — often a signal of a potential explosive breakout. Volume at 46.4 million remains subdued, possibly hinting at silent accumulation rather than lackluster interest.
If bulls manage to keep the level of $0.60 stable, they may gain sufficient strength to challenge $0.65 and even $0.70. With Bitcoin indicating neutral-bullish signs above $83,000, sentiment in the market is still cautiously optimistic for altcoins such as ADA. However, if $0.60 fails, the prospect of cascading liquidations may bring ADA down to support levels at near $0.55.
Read More: Cardano price Prediction: $ADA Targets $7 as Bullish Breakout Forms
