Cardano (ADA) has maintained a relatively stable price range of around $0.63 to $0.65 in the last 24 hours, but recent large-scale sales of 100 million ADA have caused uncertainty about its short-term trajectory. Market participants are watching for any signs that indicate potential rebounds or further declines as traders attempt to navigate this turbulent period. Analysis suggests a crucial support level at around $0.63 is forming and could impact prices, with a potential drop to $0.54 if breached. While some traders see $0.64 as a temporary buying window with a target of $0.73, long-term predictions remain uncertain due to the current lack of clarity regarding market direction. 100 million ADA were recently injected into circulation by ‘Cardano whales,’ which has impacted investor sentiment. Although these large transactions may indicate profit-taking as a possible motive, the overall impact on market psychology is undeniable. A recent interview by Cardano founder Charles Hoskinson highlighted the network’s potential role in facilitating Bitcoin adoption, offering some optimism for future price increases. However, no significant price changes have yet emerged from this insight. The asset has experienced a 10% increase this week, but a 13% drop over the past month. Current market conditions remain indecisive with investors holding both buy and sell positions. To see Cardano’s prices rebound, selling pressure must ease and resistance levels need to be overcome, while the impact of these large sales on investor sentiment requires further observation.