Cardano Price Prediction: Whales Shed 110M ADA as $0.23 Holds

Cardano price prediction weakened on Oct. 13 as large holders reduced their balances amid continued selling pressure. ADA traded near $0.233 after losing more than 14% over seven days.

Crypto analyst Ali Martinez reported that tracked whales reduced their holdings by over 110 million ADA. Meanwhile, daily active addresses declined sharply, adding concerns about network participation.

Derivatives data also suggested more traders favored short positions during the measured period. However, Cardano‘s decentralized finance deposits increased when measured in ADA.

Cardano Whales Reduce Holdings Over Five Days

Crypto analyst Ali Martinez reported that large Cardano holders offloaded more than 110 million ADA during five days beginning October 8. The reduction coincided with the latest weekly price decline. At a market price of $0.233, those tokens carried a value of about $25.6 million, although their transaction prices remain unclear.

Large wallets can influence market liquidity when their owners move substantial quantities of tokens. However, changes in tracked balances do not show where every token went or whether each movement involved an exchange sale.

Cardano price remained under pressure during the reporting period. The decline followed the reduction in whale holdings. Broader market conditions and trading demand also affect ADA’s market price.

Cardano Network Addresses Fall

Cardano’s daily active addresses declined from 27,248 to 15,977, according to figures shared by Martinez. That represents a 41.36% decrease in the number of addresses interacting with the blockchain during the measured period. Active addresses measure network participation, rather than the number of individual users.

Meanwhile, DeFiLlama data showed growth in Cardano’s decentralized finance holdings. Total value locked rose from 257.43 million ADA on October 6 to 279.88 million ADA. The change amounted to 22.45 million ADA, or approximately 8.7%, over the period covered by the figures.

Derivatives figures from CoinGlass showed approximately $383 million in short-side trading volume over 24 hours. Long-side volume reached about $342 million during the same window, leaving a difference of $41 million. The figures showed more short-side trading activity as the Cardano price remained near its weekly lows.

The long-to-short account ratio stood at 0.86. Readings below one indicate that short accounts outnumber long accounts in that measure. According to the reported data, the ratio had stayed below one since October 5.

Cardano Price Tests $0.23 After Moving Average Break

Cardano’s daily chart showed ADA moving below its 200-day exponential moving average. The price then approached the same indicator from below, making the former support area a potential resistance level. A sustained recovery above that average could bring the $0.27 region back into focus.

The token also traded within a rising channel that began in late June. However, ADA crypto moved beneath the channel’s midpoint, while the Awesome Oscillator showed weaker upward momentum. The channel’s lower boundary remains another level to monitor.

Near-term price attention centers on $0.23. A break beneath that level could expose the psychological $0.20 area, according to the chart setup. Conversely, a move back above the moving average would change the immediate technical picture.

This article is for informational purposes only and does not constitute financial or investment advice.