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The Cardano Showdown: Whales, $0.90 and a Dash of Chaos!

BBG News
  • Whales have scooped up 40 million ADA in just two days, propelling the price to a thrilling $0.85. But can the hype last? Only time will tell… and maybe a few whales.
  • If Cardano is to maintain its bull run, it must stay above $0.75. Drop below, and well, let’s just say the whales might have a snack.

In the past two days, the big fish (those holding between 100 million and 1 billion ADA) have acquired over 40 million tokens, bumping their total holdings to a rather comfortable 3.11 billion ADA. Not bad for a couple of days of shopping, eh?

This buying spree coincided with a dramatic surge in ADA’s price, jumping from about $0.66 to a very attractive $0.80. It’s almost like the whales knew something we didn’t. Shocking, right?

The sudden whale activity seemed to give the price a little nudge northward, increasing demand in a way that made everyone wonder, “Is this the beginning of something big, or are we just getting a sugar rush?”

Before this, however, the price was about as exciting as watching paint dry. But with the whales getting involved, things took a sharp turn. Talk about the rich getting richer!

This sudden dance between whale buys and price action seems like a happy accident—or possibly a well-orchestrated plan. But, for now, we’ll have to wait for a bit more confirmation. We can’t just take the word of some large wallet holders, can we?

ADA Breaks Free from Its Chains!

Cardano (ADA) has managed to break free from the prison of a descending channel, reaching an impressive high near $0.80 before casually strolling up to $0.85. We all saw that coming… didn’t we?

As of now, ADA is hovering around $0.7944, looking a bit like the cat who got the cream.

However, the MACD histograms have started to shrink, suggesting that the momentum might be on its way to a well-deserved vacation. The all-important support area sits at $0.75. If it stays above this, the bullish narrative will continue—if it falls below… well, let’s just say the whales might be looking for a new hobby.

If ADA can hold above $0.75, we could see it consolidate around $0.82, and possibly break $0.85. But if it falls below $0.75, expect the market to throw a little tantrum. We’re talking about a potential drop to the $0.70 area.

Despite a brief pause in the action, the MACD lines are still above zero, so demand still outweighs supply. No need to panic just yet, folks!

If ADA closes above $0.75, the bullish trend remains intact. But if it drops below, well, let’s just say the breakout hypothesis might need a band-aid.

In the short term, ADA’s fate is hanging by a thread, depending on whether it can keep its footing above the support levels. Talk about living on the edge.

The Great ADA Liquidation Frenzy

Looking over to the derivatives side of things, CoinGlass data reveals that the last big long liquidation cluster for ADA formed around $0.789. But here’s the kicker—short positions are building up like a game of Jenga, ready to topple above the $0.90 mark.

From $0.805 to $0.875, short clusters are growing mainly on Binance and Bybit. Someone’s got to lose their shirt, right?

If the price rises, those short positions might start a domino effect of liquidations, turning the market into a rollercoaster. Buckle up!

But if ADA dips below $0.775, the longs will start to feel the heat, with positions piling up at Bybit and OKX at the $0.760 level. A little market chaos never hurt anyone… right?

In short, ADA’s next move will likely trigger a wave of liquidations, and with liquidity gaps looming on both sides, we could be in for a wild ride. So hold on tight, folks. It’s going to get bumpy!

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2025-05-11 21:35

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