Cardano (ADA) has mostly traded flat over the past 24 hours as the broader market steadies after the “Black Friday” crash. The drop hit the Cardano price harder than many large-cap coins, sending it to the lower end of its bullish multi-week channel.
Despite the short-term weakness, the Cardano price structure still looks bullish on higher time frames. It only needs to reclaim a few critical levels to confirm a rebound — and two on-chain metrics are now supporting that setup.
Whale Accumulation Rises as Selling Pressure Drops
Fresh whale activity has emerged since October 12, adding to the earlier buying seen from mega-holders right after the crash. Data from Santiment shows that wallets holding over 1 billion ADA (mega whales) increased their balances from 1.50 billion to 1.59 billion ADA, while wallets in the 10 million to 100 million ADA range rose from 13.18 billion to 13.29 billion ADA.
Note: Cardano whales started positioning early, hours after the crash. However, only the 10 million – 100 million cohort was active earlier. It seems Mega Whales have now joined.
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Cardano Whales Keep Adding: Santiment
At an average Cardano price of $0.70, these groups have added roughly 200 million ADA, worth about $140 million in just 48 hours. The synchronized buying between large and mid-tier whales shows confidence that ADA has likely found a base near current levels.
At the same time, the Spent Coins Age Band (SCAB) — which tracks how many ADA coins have been moved across all age groups — has dropped sharply since October 12.
The total volume of spent coins fell from 179.06 million ADA to 87.33 million ADA, a 51% decline, showing that overall on-chain selling activity has slowed significantly.
Fewer ADA Being Moved: Santiment
In simple terms, whales are adding while fewer coins are moving out of wallets. Together, they signal less offloading pressure and growing investor conviction.
Cardano Price Targets $0.86 as Next Key Level
On the 12-hour chart, the Cardano price is still moving inside a broad ascending channel. It is a bullish pattern that often leads to continuation if key levels hold. After finding support near $0.61, the lower channel line, the Cardano price bounced back toward $0.73, which aligns with the 0.236 Fibonacci retracement.
A breakout and close above $0.73 could open the next major resistance zone at $0.86. It is a level where several earlier rallies were rejected, highlighted by the clustering.
Cardano Price Analysis: TradingView
Breaking above this level would validate the next leg of the ADA price recovery and could target $1.01 (the 0.786 Fib level) and $1.12, the upper trend line of the channel. However, the bullish setup remains intact only while ADA holds above $0.61.
Losing that support could trigger a deeper slide, invalidating the structure and delaying any recovery attempts.
