With Cardano’s price struggling under heavy selling pressure from whales, all eyes are now on the $0.60 level to see if it can hold or face a dramatic decline.

The Cardano price is at a tipping point, caught between bullish optimism and growing bearish pressure. With ADA trading near a critical resistance level, traders are on edge, wondering whether it will push past key barriers or face a sharp rejection. The stakes are high, especially as whales have already offloaded 200 million ADA, fueling uncertainty in the market.

Cardano’s current price is $0.67 with a market cap of $23,943,456,060.00. Its price is 2.20% up in the last 24 hours. Source: Brave New Coin

As market tension builds, experts are divided, and all eyes are now locked on ADA’s next move.

Cardano Price Hits Critical Resistance! Could a Price Dump Be Next?

ADA Cardano price is struggling under a strong downtrend, and the latest bounce could be nothing more than a dead cat rally. Top analyst CryptoJobs3 highlights a potential drop opportunity, noting that with whales already offloading 200M $ADA, the market is showing clear signs of weakness. If this resistance zone holds, sellers could take control and drive $ADA toward lower levels.

Cardano struggles at descending trendline resistance, with the potential for further decline if sellers dominate. Source: CryptoJobs3 via X

With bearish momentum building, a rejection here could accelerate the sell-off, putting key support levels to the test. If $ADA fails to hold its ground, a deeper slide could follow, shaking market confidence. However, if buyers step in with strength, a breakout could flip the narrative. The coming days will decide whether Cardano finds support or faces another leg down.

Cardano Whales Sold 200M $ADA

Cardano’s biggest holders sold off nearly 200 million $ADA throughout March, shaking up the market and raising questions. Historically, whale sell-offs have led to increased volatility, and this move could either trigger a deeper correction or set the stage for a surprise rebound. With large players cashing out, retail investors are left wondering whether this is a warning sign or the perfect time to buy the dip.

Whales sold a massive amount of ADA during March. Source: CryptoPotato Official via X

CryptoPotato Official believes that such a massive on-chain weakness could put serious pressure on $ADA’s price, making it vulnerable to a deeper slide if buyers don’t step up. If momentum shifts bearish, key support levels could break, opening the door to even lower prices. However, if bulls absorb the selling and flip sentiment, this could turn into a prime buy-the-dip opportunity. The next moves will be critical as either $ADA will fight back or there will be more pain ahead.

Diverging Views: ADA Flashing Buy Signals

According to a famed chartist, TehThomas, Cardano price is flashing strong reversal signals as it pushes toward a critical resistance zone. After rebounding from $0.670, ADA is now testing the $0.720-$0.730 level, an area that has historically triggered major breakouts. If bullish momentum continues, experts believe this could pave the way for a rally toward $0.780 and beyond, setting the stage for a larger uptrend.

Cardano breaks out of the descending channel. Source: TehThomas via TradingView

However, failure to clear this resistance could lead to a pullback toward $0.680-$0.690, where buyers may look to reaccumulate. TehThomas emphasizes that the ADA Cardano price is nearing a decisive moment in the coming hours.

Final Thoughts: Can Grayscale’s Filing Turn the Tide for ADA?

Grayscale has filed an S-3 for their existing Digital Large Cap Fund. Source: ALLINCRYPTO via X

Just as bearish pressure threatens to drag ADA Cardano price lower, Grayscale’s latest move could flip the script. With Cardano included in its Digital Large Cap Fund filing, institutional interest might be the spark that reignites bullish momentum. While bearish pressure still looms, a surge in institutional interest has the potential to be the catalyst that bulls need to regain control. For now, all eyes are on Cardano’s price action as the market awaits its next decisive turn.