Cardano Slips Below $0.84 Support After Whales Sell $500 Million in ADA
On-chain signals alongside a break below $0.84 point to near-term weakness.
Overview
- ADA is trading near $0.80–$0.82 after losing a summer trendline and closing under the $0.84 level.
- Large holders sold roughly 560 million ADA in four days, a sale worth about $500 million that added sharp supply.
- Dormant-wallet activity spiked and CryptoQuant’s Taker CVD stayed negative, indicating distribution to exchanges.
- Momentum gauges turned bearish with RSI near 40 and a MACD crossover, putting $0.76 as the next key support.
- A decisive move back above $0.95 could unlock $1.20–$1.25 targets, while Project Catalyst Fund14 deploys $18.2 million with voting open until October 6.