Cardano price remains to be down almost 23% within the last 30 days, so the general trend stays weak. But underneath this weakness, buying pressure is constructing.
Selling momentum is fading, technical stress is easing, and huge holders have began increasing their supply near the support line. This mix doesn’t guarantee a clean recovery. But it raises a serious query: Are whales preparing for a recovery early or are they intervening too early?
Bullish divergence and whale accumulation are converging near support
On the day by day chart, Cardano price is trading inside a falling wedge, a pattern where the value consolidates between two descending trendlines. This pattern often precedes strong moves because pressure increases because the range narrows.
Between November twenty first and December 18th, Cardano price made a lower low while the RSI (Relative Strength Index) made a better low. RSI measures momentum. If the value weakens however the RSI improves, it shows that the sellers are losing strength. This bullish divergence becomes more significant when it appears near the lower boundary of a falling wedge, indicating strong support.
Key Bullish Divergence: TradingView
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On-chain data confirms this pressure shift.
Wallets with 100 million to 1 billion ADA increased balances from 3.74 billion to three.75 billion ADA within the last 48 hours. That's a further amount of about 10 million ADA, value about $3.6 million.
More importantly, holders within the 1 million to 10 million ADA range increased aggressively. Their balances increased from 3.84 billion to five.60 billion ADA, a rise of about 1.76 billion ADA, value about $634 million.
Cardano whales are back: Santiment
The order is significant. Larger whales attacked first, followed by a powerful gathering of smaller whales. Combined with the RSI divergence, this means that selling pressure is easing as buyers quietly absorb supply near structural support.
This doesn’t yet confirm ADA price reversal. But it clearly shows that the downward momentum is weakening as accumulation increases.
Cardano Price Levels That Will Decide Whether Whales Are Right
Despite improving momentum and whale buying, Cardano stays in a broader downtrend. Therefore, price confirmation is crucial.
For hopes of a bounce to realize credibility, ADA must reclaim strong resistance at $0.48 with a clean day by day close.
Before that, resistance lies between $0.39 and $0.42. Failure on this zone would trap price in a wedge and reinforce a consolidation reasonably than a recovery.
Given the general bearish trend, downside risk stays.
The lower wedge trend line is just above $0.33. A decisive break below would invalidate the rebound thesis and expose $0.29 as the following major support. A lack of $0.29 would signal that the broader downtrend is regaining control of Cardano price.
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Article source: beincrypto.com
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