Cardano Slides Toward $0.17 as Whale Selling and Weak Technicals Persist
ADA traded near $0.17 to $0.18 on Monday after five consecutive weeks of losses, with Santiment data showing wallets holding 10 million to 100 million tokens selling roughly 50 million ADA since November 4. Sources differ on the precise price and short-term technical read, though both place ADA well below its key moving averages.
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Whale Distribution Continues
Wallets holding between 10 million and 100 million ADA have collectively sold about 50 million tokens since November 4, according to Santiment's Supply Distribution data. CryptoQuant's market summary points to large orders across ADA's spot and futures markets, with overheating conditions and sell-side dominance, indicating that selling is outweighing buying among active large participants.
The selling comes as ADA extends a downturn that began in early October. One report says the token fell more than 9% in the final week of its tracking period and has now posted five straight weekly losses. A separate report puts the rolling seven-day decline at 5.7%, a difference that reflects the two outlets measuring different windows.
Price Levels Differ Across Sources
The sources do not agree on the exact price. One outlet places ADA around $0.1748 on Monday. Another, using CoinGecko and Binance data, shows it near $0.181 to $0.1814 that day, after a session low of $0.1714. The gap is small, but it matters for the technical picture, since both readings sit close to the $0.17 to $0.18 zone that analysts are watching.
CoinGecko also reported a market capitalization of $6.8 billion and roughly $246 million in 24-hour trading volume, with a 0.2% gain over the day.
Technical Picture and Key Levels
Both sources agree that ADA trades well below its major moving averages. One outlet cites a 50-day EMA near $0.209, a 100-day EMA near $0.211 and a 200-day EMA near $0.232. The weekly chart cited by the other outlet shows the 20-week average at $0.2030 and the 50-week average at $0.2480. Those averages form the overhead resistance that any sustained recovery would need to clear.
Momentum readings are mixed. One report places the daily RSI near 30, approaching oversold territory, with a slightly negative MACD. The other reports a daily RSI of 35.85, above its signal average but still below neutral. On the weekly chart, Chaikin Money Flow registered a positive 0.05, which that outlet characterized as a more constructive volume reading despite the weak price structure.
On the downside, one analyst-level view flags horizontal support at $0.156, with a break below that level opening the door to a deeper correction. On the upside, the first resistance is cited at $0.183, with the moving-average cluster above it. The Bollinger Bands on the daily chart show a middle band near $0.1965 and a lower band near $0.1711.
Market Commentary and Liquidation Exposure
Market commentator Mr Brownstone, in a November 9 post on X, said a rapid descent could complete a multi-year pattern if ADA loses the $0.19 level. That view is conditional and not a forecast from an independent analytics firm. CoinGlass's one-month liquidation heatmap shows estimated liquidation concentrations overhead near $0.233, $0.24 and $0.26. The heatmap maps exposure by price level and does not report how much value was actually liquidated.
Network Upgrade Context
Intersect said DijkstraNet completed its move to protocol version 12 on November 2 using node 11.2. The organization listed node 11.1.3 as the recommended mainnet release, with node 11.2 still a prerelease lacking mainnet clearance. None of the sources tie the upgrade to the recent price action, so its market relevance remains unestablished.
Why It Matters
For Traders
With ADA near key support around $0.17 and resistance clustered between $0.19 and $0.23, a break in either direction over the next few sessions could set the near-term range.
For Investors
Five straight weekly losses and sustained large-holder distribution point to weak demand that would need to reverse for the longer-term moving averages to matter again.
For Builders
Protocol version 12 is live on DijkstraNet with node 11.1.3 recommended for mainnet, so teams should confirm which release their infrastructure runs against.
This article is for information only and is not financial advice. Read the full disclaimer.
