Cardano Price Drops to $0.60 While Whales Quietly Load Up 70M Tokens

Cardano (ADA) has been having a rough week, unable to catch a break or hold onto any recovery momentum. The price keeps sliding toward $0.60, testing investor nerves and raising questions about where the bottom might be. But here's where it gets interesting—while everyone's watching the price drop, whales are doing something completely different.

Large holders have been quietly scooping up ADA tokens, and the numbers tell a compelling story. On-chain data shows these big players aren't just sitting on their hands; they're actively buying, which often signals they see something the broader market might be missing.

Whales Add 70 Million ADA Tokens in Just 48 Hours

While Cardano's price keeps making lower lows, whale addresses have been stepping in as buyers. Wallets holding between 1 million and 10 million ADA have added roughly 70 million tokens over the last two days—that's about $42 million worth at current prices. Sure, it's not the biggest accumulation we've ever seen, but the timing matters.

This buying spree has pushed total whale holdings to a five-month high, suggesting these major players view current prices as a solid entry point.

Historically, when sophisticated investors start accumulating during downturns, it often precedes broader market rallies. They typically have better information and longer time horizons than retail traders, so their moves tend to be worth paying attention to.

Technical Signals Hint at Potential ADA Price Reversal

The technical picture is starting to look a bit more promising too. The MACD indicator shows bearish pressure easing—those red histogram bars are getting smaller, which means selling momentum is fading. This lines up nicely with the whale accumulation pattern.

Here's the thing though: Cardano has teased us with almost-bullish MACD crossovers twice in the past two months, only to fall flat each time. But this time feels different. With strong accumulation from major holders and weakening bearish signals, ADA might finally pull off a legitimate bullish crossover that could kick off a short-term uptrend.

Can Cardano (ADA) Price Hold $0.60 Support?

Right now, Cardano sits at $0.61, barely hanging onto the crucial $0.60 support level. The recent stabilization coincides with that whale buying activity, hinting that downside pressure might be running out of steam.

If ADA holds $0.60, we could see a bounce toward $0.62, with $0.66 as the next target. Breaking through those resistance levels would likely pull in more buyers and strengthen the reversal case.

But if whale accumulation slows down and sellers come back with force, Cardano could lose $0.60 entirely. That would open the door to drops toward $0.57 or even $0.54, throwing cold water on any bullish hopes and extending this correction.

The next few days are critical. Whether these whales are positioning for a rally or just providing temporary support will determine if ADA bounces back or slides further.