Cardano Faces Resistance at $0.75, Whales Accumulate 180M ADA

Cardano (ADA) has been navigating a challenging landscape, with bulls attempting to regain control as the price faces significant resistance at the $0.75 mark. The cryptocurrency recently rebounded from a support level around $0.65, but its recovery has been met with resistance, particularly in the $0.72 to $0.75 range.

In the past few days, ADA followed the broader market trend, experiencing a bearish movement that saw it drop below several key support levels. The price fell to as low as $0.6495 before finding buyers who stepped in to support the price. This support zone around $0.65 has proven to be crucial for ADA, acting as a floor for the recent decline.

Since hitting this low, ADA has initiated a recovery wave, managing to climb above the $0.680 and $0.70 levels. At the time of reporting, ADA was trading at $0.7217, reflecting a 2.93% decline over the 24-hour period. Technical indicators suggest that ADA is facing a short-term bearish trend line with resistance at $0.720 on the hourly chart. The price is currently trading below the 100-hourly simple moving average, which adds to the bearish outlook.

The Relative Strength Index (RSI) stands at 47.34, indicating neutral market conditions with no clear signs of being overbought or oversold. This neutrality reflects the current indecision in the market. Looking ahead, ADA might face its first major hurdle near the $0.750 zone, which corresponds to the 61.8% Fibonacci retracement level of the downward move from the $0.8169 swing high to the $0.6495 low.

If Cardano can break above this level, the next key resistance would be at $0.7750. Beyond that, the $0.80 level presents another major barrier. A clear break and close above $0.80 could potentially trigger a stronger rally toward the $0.950 region or even the $1.00 mark. On the downside, if ADA fails to climb above the $0.750 resistance, another decline could occur. The immediate support is near $0.7150, followed by a more important support at $0.6880.

A break below $0.6880 might open the door for a retest of the $0.650 level. If this support fails, the next major level to watch would be $0.6320, where buyers might step in more aggressively. Whale activity provides an interesting counterpoint to the technical picture. Over the past week, large holders have accumulated over 180 million ADA. This surge in large-scale buying has raised speculation about a potential upward pressure on Cardano’s price.

However, the liquidation heatmap reveals pressure points that could limit upward movement. The $0.72 to $0.75 range has seen heavy liquidation activity, suggesting that ADA’s price could face resistance or trigger a wave of liquidations if it approaches these levels. User engagement metrics show steady but moderate participation in the Cardano network. With 31,005 active addresses recorded at the time of writing, the network maintains consistent usage, but lacks the sharp increase often associated with bullish trends.

Cardano’s Open Interest has decreased by 11.52% to $738.11 million. This decline signals caution among traders, with many market participants stepping back due to uncertainty about ADA’s price direction. The reduced number of leveraged positions suggests that ADA may continue to consolidate rather than make strong moves in either direction. Until market confidence builds, range-bound trading seems likely.

While whale accumulation has increased buying pressure, ADA’s immediate outlook remains uncertain. The bounce from support is positive, but neutral technical indicators and declining Open Interest point to limited momentum in the short term. The cryptocurrency may remain caught between the support at $0.65 and resistance at $0.75 until a catalyst emerges to push the price decisively in one direction. Traders and investors should watch these key levels for signs of the next major move.