Cardano Price Forecast: Bears gain the upper hand as losing streak reaches five weeks

  • Following a decline of over 9% last week, its fifth consecutive weekly loss, Cardano trades around $0.176 on Monday.
  • Selling pressure is building as some whale wallets cut their ADA exposure, according to Santiment data.
  • ADA faces the risk of a further correction, with softer on-chain data and a worsening technical picture limiting the scope for recovery.

Last week’s fall of over 9% extended Cardano’s (ADA) losing run to five consecutive weeks since early October, with the token settling around $0.176 on Monday. Reductions in ADA holdings among large whale cohorts lend further weight to the bearish price trend. Meanwhile, softer on-chain readings and a worsening technical picture point to the possibility of additional losses.

TMGM Analysis: Financial Market News, Economic Calendar & Market Insights

Whale Selling Weighs on ADA

A reduction in exposure among large-wallet holders, or whales, underpins the bearish view of Cardano in Santiment’s Supply Distribution data.

Since 4 November, wallets holding between 10 million and 100 million tokens (blue line) have cut their holdings by 50 million tokens, the metric shows.

Over the same period, 20 million ADA has been accumulated by whales with holdings of between 100,000 and 1 million (red line) and those with between 1 million and 10 million (yellow line). The figures point to changing positioning among large holders: as top-tier and mid-sized whales pare back exposure, smaller whales are taking up some of the supply. Such a pattern often signals distribution, increasing Cardano’s near-term downside risks.

Cardano supply distribution chart. Source: Santiment

On-Chain Readings Reinforce Bearish Sentiment

Caution is evident in CryptoQuant’s summary data. Although large whale orders are present in ADA’s spot and futures markets, conditions are overheated and sellers dominate. Together, these readings point to a cautious, bearish bias among Cardano traders.

Summary chart for Cardano. Source: CryptoQuant

Cardano Price Forecast: Bears Target the $0.156 Level

Trading at $0.176 on Monday, Cardano retains a bearish short-term bias below its 50-day Exponential Moving Average (EMA) at $0.209, 100-day EMA at $0.211 and 200-day EMA at $0.232. With these EMAs grouped above the price, the recent rebound from below $0.180 appears corrective for now. The Relative Strength Index (RSI), near 32, points to weak but stabilising momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) remains marginally negative, reinforcing the subdued outlook below resistance from the broader downtrend.

The first upside hurdle is the horizontal resistance near $0.183. Beyond that lies the EMA cluster, beginning at $0.209 and $0.211 and stretching towards the longer-term cap at $0.2323. Higher up, further supply awaits at $0.236 and $0.245, followed by a more distant ceiling at $0.296.

The closest structural support on the downside is the horizontal level near $0.156. A decisive move back towards that area would open the way for deeper losses.

Daily chart of ADA/USDT

(The technical analysis of this story was written with the help of an AI tool. Know more.)