Cardano Risks Further Losses as Whale Holdings Decline

Key takeaways Cardano (ADA) consolidates below $0.20 on Monday after losing 21% in October, with support holding around $0.1894. Large investors holding between 10 million and 100 million ADA have reduced their share of circulating supply from 38.03% to 37.45%. Technical indicators remain bearish, with a break below $0.1894 potentially exposing ADA to further declines.

The post Cardano risks further losses as whale holdings decline appeared first on CoinJournal.

Cardano (ADA) has entered a crucial phase in its market cycle as selling pressure continues to mount across major exchanges. After experiencing a brutal 21% price drop throughout the month of October, the asset is currently struggling to regain upward momentum, trading tight beneath the psychological resistance level of $0.20.

The most alarming development for retail holders is the behavior of major market participants. On-chain metrics reveal that large addresses holding between 10 million and 100 million ADA have steadily decreased their holdings, shifting their supply allocation from 38.03% down to 37.45%. This liquidation from institutional-sized holders indicates a lack of short-term confidence, leaving the market reliant on fragile retail support around the critical $0.1894 price floor.

This article does not constitute investment advice. The content provided here is solely for informational purposes and reflects the results generated by TradeitKN's AI analysis system. Before making any financial decisions, you should conduct your own research or consult with a licensed financial advisor.