The Cardano price has plummeted 10% this week, now trading precisely at $1.00. However, what could be even more concerning for ADA holders is a recent report by Ali Martinez on X.
The ADA chart reveals a complex narrative of Cardano’s recent price movements. Starting from mid-December 2024, ADA experienced a notable downward trend. After hitting a low point in late December, the cryptocurrency saw a recovery that peaked in mid-January 2025. Unfortunately, this recovery was short-lived, with the price declining sharply and then stabilizing somewhat by late January.
Whale activity tells a critical part of this story. Martinez reported that whales have sold more than 180 million Cardano ($ADA) over the past week. This massive sell-off is clearly reflected in the chart’s background, showing a significant decline in holdings of large investors controlling 100 million to 1 billion ADA coins.
Whales have sold more than 180 million #Cardano $ADA over the past week! pic.twitter.com/IMdo12bcgE
— Ali (@ali_charts) January 24, 2025
ADA Price: Key Levels to Watch
The ADA price chart demonstrates several important technical patterns. A descending trendline dominated the market from mid-December through late December, indicating consistent selling pressure. A brief recovery created an ascending trendline from late December through mid-January, giving a momentary glimpse of hope for ADA holders. However, the mid-January peak was quickly followed by another clear downtrend, breaking the recovery momentum.
Key price levels provide additional context:
- Support Zone: The price found temporary support around 0.81–0.85 in late December and mid-January
- Resistance Zone: Significant resistance emerged near 1.12–1.17 during mid-January peaks
The whale sell-off appears to have significantly influenced market psychology. Large investors’ bearish sentiment likely triggered a cascade of market volatility, with retail investors responding to these substantial movements.
Looking ahead, the future of Cardano remains uncertain. Continued whale selling could further suppress the price, while any reduction in selling pressure might create an opportunity for price stabilization or potential recovery. Investors should watch the critical support level of 0.81–0.85 and the resistance zone at 1.12–1.17 for potential market signals.
Read also: XRP vs SEC Update: Now Easier for Banks and Companies to Offer Crypto Services
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