Cardano Whales Accumulate 120M ADA as Price Trades Below $0.176 Amid Mixed Sentiment

According to Santiment data, Cardano whales accumulating 120 million ADA tokens since Monday as the token trades below $0.168, rejected at its 50-day exponential moving average near $0.176. The accumulation reflects large wallet activity despite current bearish technical structure, with ADA trapped beneath all three major moving averages.

Derivative markets send conflicting signals: the long-to-short ratio sits at 1.07, indicating modest bullish positioning, while perpetual futures funding rates turned negative at approximately -0.014, suggesting growing bearish conviction among short sellers. Critical resistance stands at $0.176 and $0.197, with key support levels at $0.150 and $0.138.