Cardano Whales Stay Quiet as ADA’s Chart Flashes a Sell Signal

Cardano’s ADA rose 4.3% on Wednesday to above $0.22, even as Ali Martinez’s analysis said its SuperTrend indicator had turned bearish. Martinez noted that the last comparable bearish signal, on May 22, was followed by a 46% correction, though he said a deeper drop is not confirmed. Large holders with 100 million to 1 billion ADA kept their holdings relatively steady over the past 10 days, offering no clear sign of buying or selling. The next key level is $0.21, the lower boundary of ADA’s rising price channel; a daily close below it could open a decline toward $0.17.