Cardano Price Under Pressure: Whales Dump Large Holdings, Support Line Threatened

Recent on-chain data reveals significant ADA token transfers by large investors (whales) in the past week, sending a wave of concern through the market. These transactions have resulted in an outpouring of over 100 million ADA tokens, leaving investors wary. Analysts highlight the $0.63 level as crucial support for Cardano’s price trajectory, with a potential drop to $0.54 if this critical line is breached. Currently, prices of ADA are fluctuating within a tight range between $0.63 and $0.65.