Cardano (ADA) faces bearish pressure as whales reduce exposure

Key takeaways

• ADA is trading below key resistance zones, signaling a bearish near-term bias and limiting recovery attempts.
• Whales are reducing their exposure to ADA, which could lead to further price decline. 

Cardano (ADA) continues to trade under pressure, hovering below $0.250 on Friday as price action remains subdued beneath key resistance zones. 

On-chain data from Santiment indicates that certain whale wallets have begun reducing their holdings, adding to selling pressure.

Whales reduce exposure amid shifting accumulation trends

Santiment’s Supply Distribution data points to a weakening outlook for Cardano as large-wallet investors adjust their positions. Whales holding between 100,000 and 1 million ADA and 1 million–10 million ADA have collectively offloaded around 80 million tokens since April 19.

Furthermore, wallets in the 10 million–100 million ADA range have accumulated approximately 60 million ADA over the same period. 

This divergence suggests a rotation in holdings: mid-sized whales are selling, while larger entitie...