Cardano Whales Exit Market Amid Steady Declining Prices

Azeez Mustapha


Unlock Daily Forex Signals

Select a Plan


1 - month



3 - month



6 - month






Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

Cardano (ADA) continues to drag along as its woes appear to have no end in sight. Since the rally in March, analysts expected the altcoin to attract some new investors in the second quarter of 2022, however, this has not been forthcoming. Instead, the altcoin has lost almost 30%, erasing most of the gains made in March.

While the market did not expect the recent turn of events, it appears that some ADA whales anticipated it. Reports show that whales had begun offloading and staying away from the market before the March consolidation. By April 5, when the slump started, whale activity on the network had halved in volume.

While the price reversal was not a direct result of the recent whale activity, their exit from the market did not help market conditions at all. Over the past few weeks, over 1.2 million ADA holders have seen their holdings go into losses.

Retail investors subsequently pulled away from the market following the recent pullback, causing the number of active on-chain investors to drop by a whopping 80% from 101,000 to 21,000.

Regardless, the latest on-chain data suggests that the investors have taken the drop recorded over the last 24 hours as an opening to buy ADA at a discount.

Key Cardano Levels to Watch — April 18

Cardano has refreshed its monthly low on Monday after slipping below the $0.900 psychological support to touch the $0.875 low. While ADA has regained its place above the $0.900 line, the possibility of a bearish continuation over the coming hours and days remains potent.

Studio Project 66
ADAUSD – Daily Chart on Binance. Source: TradingView.

However, the eighth-largest cryptocurrency has dragged along in oversold conditions for some days now, promoting the likelihood of a bullish correction soon. That said, a move and close above the critical $1 mark could dispel bears and help ADA push for the $1.100 level, where the top of my long-lasting descending channel rests.

Meanwhile, our resistance levels are $1.000, $1.050, and $1.100, and our support levels are $0.850, $0.800, and $0.700.

Total Market Capitalization: $1.82 trillion

Cardano Market Capitalization: $30.3 billion

Cardano Dominance: 1.66%

Market Rank: #8


You can purchase Lucky Block here. Buy LBlock

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *