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Cardano Sheds Over 20% to Mid-$0.60s as Whales Buy the Dip

On-chain accumulation by large holders contrasts with bearish derivatives signals at a pivotal $0.6671 support.

Overview

  • ADA traded near $0.64 after a 24-hour slide of roughly 20–21%, with intraday lows reported around $0.61–$0.64.
  • Wallets holding 10–100 million ADA added about 140 million coins since Oct. 10, according to Santiment, while the Money Flow Index formed a higher low.
  • Technical structure turned bearish with price below key EMAs, no bullish RSI divergence, and a weak Smart Money Index reading.
  • Derivatives metrics flagged pressure with negative funding rates and CryptoQuant data showing seller dominance across spot and futures.
  • Analysts highlighted a filled imbalance near $0.6671 as support, with resistance around $0.68–$0.76 and downside risk toward $0.60–$0.55 if selling resumes.