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Cardano (ADA) has been under intense selling pressure, leaving investors questioning its future. After reaching highs above $1.20, the price has taken a significant downturn, now trading around $0.617. With the market sentiment growing increasingly bearish, many are wondering: Is ADA headed for a full collapse, or is this a temporary correction before a rebound? The recent price drop has brought ADA dangerously close to key support levels. If these levels fail to hold, the possibility of further downside could become a reality. However, technical indicators suggest that ADA might be in oversold territory, hinting at a potential recovery. In this article, we will analyze Cardano’s current price action, key support and resistance levels, and technical indicators to determine whether ADA is at risk of crashing further or if a reversal is on the horizon. Let’s dive into the charts to uncover the next potential move for Cardano! Cardano (ADA) has been struggling with bearish momentum after a strong rally that saw it reach highs above $1.20. Currently, the price is trading around $0.617, showing a sharp decline in recent weeks. With the price now approaching critical support levels, investors are left wondering whether ADA is set for a recovery or if it will continue to spiral downwards. Examining the daily chart, the downward trend is clear, with lower highs and lower lows forming. The price is testing a key support zone that has historically acted as a strong barrier against further decline. The question now is whether this level will hold or if ADA is headed for a deeper collapse. One of the most crucial levels to watch is the $0.60 support zone . This level has played a significant role in the past, acting as a strong base before major price recoveries. If ADA manages to hold above this level, it could see a bounce, leading to a short-term recovery. However, if bears push the price below this mark, the next major support lies around $0.40-$0.45, and failing that, a retest of the $0.20 region is possible. The presence of a lower support near $0.20 suggests that if a breakdown occurs, ADA could see an extended period of bearish pressure. This level aligns with historical price action where accumulation previously occurred. A break below $0.20, while unlikely in the short term, would signal a major structural collapse in Cardano’s price. The Relative Strength Index (RSI) on the daily chart is currently at 26.66, which is well into the oversold territory. Typically, an RSI below 30 suggests that the asset is undervalued, and a reversal could be imminent. However, in strong downtrends, assets can remain oversold for extended periods before recovering. If RSI starts showing bullish divergence—where price makes lower lows, but RSI begins to rise—this could indicate that selling pressure is weakening, and a reversal might be on the horizon. Until then, traders should be cautious about assuming the downtrend is over. For ADA price to regain bullish momentum , it must break above key resistance levels. The first major resistance is around $0.80, which was a previous consolidation area. If bulls can push ADA above this level, the next target would be around $1.00-$1.20, where the price previously faced strong rejection. However, if ADA remains below $0.80, it suggests that bears are still in control, and the recovery might take longer. A break above this range would confirm a bullish reversal and could set the stage for a larger rally toward new highs. While ADA is currently facing significant bearish pressure, the $0.60 support level will be crucial in determining its next move. A bounce from here could see a recovery towards $0.80 and beyond. However, a breakdown below this level could open the doors for further downside toward $0.40 or even $0.20. The oversold RSI suggests that a relief bounce is likely, but confirmation from price action is needed before declaring a trend reversal. While a complete crash to zero is highly unlikely, ADA remains in a critical zone where bulls must step in to prevent a further downtrend. Investors and traders should keep a close eye on key levels and volume signals before making any moves, as volatility remains high in the cryptocurrency market.

TL;DR Cardano’s ADA dropped by double digits in a week, with whales offloading over 170 million tokens, potentially signaling more downward pressure. Hopes for a rebound rest on the potential approval of a spot ADA ETF filed by Grayscale, which could attract traditional investors and boost demand. More Pain Ahead? Cardano’s ADA was trading well above $0.80 towards the end of last week. However, the start of the new business week offered a lot of pain for the bulls, with the asset plunging to as low as $0.63 (per CoinGecko’s data). ADA slightly rebounded over the past several hours to the current $0.67. Still, this represents a 15% decline on a seven-day scale. ADA Price, Source: CoinGecko According to some factors, the negative trend could be far from over. The popular analyst, going on X as Ali Martinez, estimated that whales dumped more than 170 million ADA in the span of 96 hours. The stash equals almost $115 million (going at current rates). Continued efforts of that type would create an influx of tokens on the open market, potentially overwhelming demand and having a negative effect on the price. Additionally, the whales’ actions are closely monitored by some smaller players who could follow suit and intensify the selling spree. Earlier this month, Martinez maintained that ADA’s most critical support stands between $0.67 and $0.70. “As long as this level holds, the bull run remains intact,” he claimed at the time. As mentioned above, though, the valuation briefly tanked below the depicted level. The Potential Price Catalyst While the overall environment looks quite grim, one important factor might bring back the green candles. This is the possible launch of a spot ADA exchange-traded fund (ETF) in the United States, whose chances of approval before the end of 2025 have risen to 67% lately. The improved odds result from the SEC’s acknowledgment of Grayscale’s application to introduce such an investment vehicle. The product will allow investors to gain exposure to ADA without needing to directly purchase, store, or manage the cryptocurrency. This simplifies the process, especially for traditional investors unfamiliar with crypto wallets and exchanges. Additionally, the world’s largest digital asset manager – Grayscale – operates under regulatory frameworks, providing a layer of security and transparency. That might be particularly attractive to risk-averse investors who might be hesitant to enter the volatile crypto market. The post Millions of ADA Sold by Cardano Whales During Market Crash – Will the Decline Continue? appeared first on CryptoPotato.

According to recent market trends, Chainlink (LINK) continues to stabilize following recent fluctuations, maintaining steady momentum despite declining trading volume. The cryptocurrency trades at $15.46, a 1.31% increase in the last 24 hours. Market capitalization has also risen by the same percentage to $9.86 billion, indicating sustained investor interest. Chainlink Whales Drive Accumulation and Profit-Taking Chainlink’s trading volume has dropped by 31.24% to $657.29 million, reflecting lower trading activity among market participants. However, its Fully Diluted Valuation (FDV) remains at $15.46 billion, supported by a circulating supply of 638.09 million LINK out of 1 billion LINK. The market sentiment remains strong because trading volume declined without affecting the price stability. The movement of large wallet investments has undergone substantial changes during the past three months because of evolving buying interests and market profit extraction. Major investors have shown rising interest due to the significant increase in large holder inflow observed during mid-December and late January. Large investor profits are responsible for the significant capital outflows during December and January. Data from IntoTheBlock reveals that large holder inflows have occasionally exceeded 18 million LINK, showing strong accumulation phases. Strategic buying activity by primary investors causes inflows to rise in the market. Such spikes show that major investors have taken steps to accumulate LINK holdings. However, except for brief surges, inflows have generally remained below 12 million LINK. On the outflow side, substantial selling activity has occurred at key moments, with outflows exceeding 12 million LINK at times. The market experiences significant price volatility because large investors reform their investment positions continuously. The price trend reveals that outflows manifest when LINK reaches its highest point, thus indicating investors conduct profit-selling activities during this time. The relationship between buying and selling activities has caused market dynamics, which resulted in price swings between $16 and $32. New influxes and outflows have decreased in recent times, which indicates an ongoing phase of market consolidation. The market price rested inside the $16-$20 zone, demonstrating lower price fluctuations. Technical Indicators and Market Sentiment CoinGlass data from Binance’s 1-hour chart shows LINK stabilizing around $15.45, with a modest 0.84% increase in the last session. The price has declined above $18, but now shows minor upward movement, suggesting a potential recovery. Trading volume remains moderate, with a 9-period SMA volume at 10.239 million, indicating steady market participation. The Cumulative Volume Delta (CVD) remains negative at -5.715 million, highlighting persistent selling pressure. The Aggregated Spot CVD remains negative at -3.584 million, reinforcing bearish sentiment. Despite this, the selling pace has slowed, allowing LINK to maintain its current price level. Future contract Funding rates stand at 0.0093, showing mild bullish sentiment among derivative traders. Open interest is rising at 4.863 million LINK, suggesting traders anticipate a potential rebound. The Aggregated Futures Bid & Ask Delta shows an increase of 171.25K LINK, indicating a gradual return of buying interest. Price Outlook and Future Prospects Chainlink’s price movements suggest a consolidation phase, with resistance near $16 and support around $14. LINK could test higher levels if buying volume increases, strengthening its recovery potential. Market pressure for selling activities might drive prices down to $14. Analysts exhibit conflicting market signals because some traders bet on price increases, but others remain watchful and hesitant. The price behavior remains unpredictable because of Whale activity, which continues to shape market movements in short-term periods. Long-term prospects remain strong as Chainlink maintains its relevance in the decentralized oracle space. Conclusion Chainlink’s price is stabilizing despite a drop in trading volume, supported by steady market interest. Large holder activity shows accumulation and profit-taking, contributing to price fluctuations. Technical indicators suggest consolidation, with the potential for a breakout if buying pressure increases. FAQs What is Chainlink (LINK)? Chainlink is a decentralized oracle network that enables smart contracts to interact with real-world data and APIs securely. Why is LINK’s price consolidating? LINK stabilizes due to reduced trading activity and balanced buying and selling pressure among investors. What does a negative CVD indicate? A negative CVD means selling pressure is dominant, leading to lower-level price declines or stabilization. What is the significance of large holder inflows and outflows? Large holder inflows indicate buying by whales, while outflows suggest selling or redistribution, impacting price movements. What are the key resistance and support levels for LINK? Current resistance is near $16, while support is around $14, defining the short-term trading range. Glossary Market Capitalization: The total value of all coins in circulation, calculated by multiplying the price per coin by the total supply. Fully Diluted Valuation (FDV): The total market value if all tokens were circulated. Large Holder Inflows: The total amount of LINK purchased by major investors or whales. Large Holder Outflows: The total amount of LINK sold or moved by major investors. Cumulative Volume Delta (CVD): An indicator showing net buying and selling pressure in the market. Funding Rate: The fee paid between long and short traders in futures contracts to maintain price equilibrium. Open Interest: The total number of outstanding derivative contracts, indicating market participation. Reference: IntoTheBlock Coinglass CoinMarketCap

Bitcoin price continues to decline on Friday falling over 15% so far this week. The total crypto market lost $660 billion in market capitalization and saw $3.68 billion in liquidations this week. US Bitcoin spot ETF data recorded a total net outflow of $2.48 billion until Thursday. Bitcoin (BTC) price extends its decline and trades below $80,000 at the time of writing on Friday, falling over 15% so far this week. This price correction wiped $660 billion of market capitalization from the overall crypto market and saw $3.68 billion in total liquidations this week. Moreover, US Bitcoin spot Exchange Traded Funds (ETFs) data supported BTC’s decline as it recorded a total net outflow of $2.48 billion until Thursday, indicating signs of weakness among institutional investors. Exchange hack fueled Bitcoin’s sell-off Bitcoin price declined more than 18% this week from Monday’s high of $96,500 to Friday’s low of $78,258, the highest weekly fall in the last three years. BTC has corrected nearly 30% from its all-time high (ATH) of $109,588 marked on January 20. This headwind in Bitcoin price was fueled by last week’s news that the cryptocurrency exchange was compromised, and funds worth $1.4 billion were stolen. The Bybit hack was twice the second largest crypto hack in history, which was PolyNetwork’s $611 million hack in August 2021. The hack eroded market confidence and erased $660 billion of market capitalization from the overall crypto market since the hack, as shown in the graph below. Crypto total market capitalization chart Moreover, this compromise caused Bybit to lose around $2 billion in BTC from its reserve, according to CryptoQuant data. A total of 20,190 BTC has been drained from Bybit’s reserve from Friday to Tuesday, reaching reverse levels seen in early March 2024. This was mostly because the exchange did not stop withdrawals after the ETH hack, and investors tend to withdraw funds given the uncertainty in the market. Crypto Fear and Greed Index hits three-year low as leverage traders got liquidated The Crypto Fear and Greed Index — a metric that measures the overall sentiment of the cryptocurrency market — dropped to nearly a three-year low this week. The index scored 10 on Thursday, indicating a shift in investor sentiment toward extreme fear, as shown in the graph below. Bitcoin Fear & Greed Index chart. this week explained that Bitcoin correction and volatility were amplified by offshore perpetual futures traders attempting to buy the dip with leverage. The report continued that the Perps have traded at discounts to the spot for several weeks, but this discount narrowed amidst the open interest spike. Further, funding rates on Binance reached neutral terrain as leverage climbed, pointing toward traders entering longs with leverage. The market quickly punished this behavior, with long liquidations amplifying the move lower. The willingness to buy the dip with leverage is an unfortunate observation in a market facing multiple signs of dampened demand impulses. This downtrend triggered a series of liquidations in the crypto market totaling $3.68 billion from Monday to Friday and $1.75 billion in BTC alone, Total Liquidation chart $BTC total liquidation chart

Ethereum corrects 4% on Friday amidst a market-wide sell-off in crypto. Derivatives data shows traders are seeking downside protection, with the shift to a bearish sentiment towards Ether. As institutional investors pull capital from Bitcoin ETFs, it ushers in selling pressure across BTC and altcoins. Ethereum ($ETH ) derivatives traders expect a decline in Ether price in the coming weeks. Ether is trading above $2,200 on Friday as Bitcoin gains ground after a flash crash under the $80,000 level. Bitcoin is back above $83,500 leading a market-wide recovery. The open interest in Ethereum is recovering slowly after the market-wide de-leveraging this week. Ethereum price declines, derivatives traders bearish Ethereum is trading at $2,214, correcting 4% on the day. The largest altcoin is highly correlated to Bitcoin, therefore the BTC flash crash under $80,000 and the subsequent recovery influenced the Ethereum price trend. While Ether struggles to gain ground among traders, derivatives data from Coinglass shows bearish bets. The long/short ratio, a metric that compares the number of long positions against short ones, reads 0.9562. A value less than one indicates a higher expectation of a price decline, as it signals a larger count of short positions in Ether. Nick Forster, Founder of Derive.xyz, evaluated the derivatives data in the Ethereum market and observed that the 7-day at-the-money (ATM) implied volatility (IV) has fallen from a high of 84% from earlier in the week to the current level of 65%. A decline in 7-day ATM IV is a sign of temporary volatility stabilization or a lower expectation of price swings in Ether.