TL;DR
- ADA forms an ascending triangle with $0.95 resistance; breakout could push price toward $1.20.
- Whale wallets sold 160 million ADA in four days, as the price slipped by 5% weekly to under $0.82.
- Cardano’s eUTXO model could attract long-term attention for its structured transaction execution.
ADA Nears Key Resistance in Ascending Triangle
Cardano (ADA) is trading at around $0.82 after a 7% drop since Monday. The past week shows a decline of just over 5%. On the daily chart, the price continues to form an ascending triangle, a structure often watched for trend continuation.
Notably, the triangle’s upper boundary sits near $0.95, a level that has held as resistance since mid-July. At the same time, a series of higher lows suggests increasing buying interest. Market tracker TapTools noted :
“A breakout above $0.95 could open the path toward $1.20.”
Bollinger Bands on the daily chart are narrowing, pointing to a period of low volatility. The Supertrend indicator remains below the price at $0.8089, showing no reversal at the time of writing. These conditions often come before price expansion, but confirmation is still needed.
If ADA closes above $0.95, the next area to monitor would be around $1.05 to $1.20. However, a failure to break resistance may lead to a drop toward the trendline near $0.80. A breakdown below that area could open the way toward $0.72 to $0.75, a previous support zone.
Whale Selling Adds Pressure Around Current Levels
According to Ali Martinez, large holders moved approximately 160 million ADA over the past four days. These addresses hold between 1 million and 10 million ADA each. Their total balance fell from 5.6 billion to 5.44 billion.
Despite the size of the move, the price has mostly held steady, suggesting that buying interest has so far met the supply. Recently, similar selling activity saw another 530 million ADA moved over 2 days.
Separately, Cardano supporter and content creator David shared a post pointing to the blockchain’s eUTXO ledger model as a reason it may gain more attention over time. He suggested that this structure allows for more predictable execution compared to account-based systems and could help ADA stand out in the future.
