ADA Nears $0.95 Resistance Amid Whale Selling Pressure

Cardano’s price action is forming what technical analysts call an ascending triangle, a pattern often watched for potential trend continuation. The structure is defined by a horizontal resistance line near $0.95 and a series of ascending higher lows, indicating gradually increasing buying interest at progressively higher price levels. Market tracker TapTools highlighted the significance of this formation, noting that ‘A breakout above $0.95 could open the path toward $1.20.’ This would represent a substantial move of approximately 46% from current levels.

Supporting the potential for a significant price move are other technical indicators. The Bollinger Bands on ADA’s daily chart are currently narrowing, which typically signals a period of compressed volatility that often precedes explosive price movements. Meanwhile, the Supertrend indicator remains bullish, sitting below the price at $0.8089 at the time of writing. This technical configuration suggests that while ADA faces immediate resistance, the underlying structure remains constructive for bulls.

However, technical analysis also outlines clear risk levels. A failure to break above the $0.95 resistance could trigger a pullback toward the triangle’s trendline support near $0.80. A breakdown below this level would be more concerning, potentially opening the door for a decline toward the $0.72 to $0.75 zone, which has served as previous support. This creates a clear risk-reward framework for traders watching the $0.95 level.

While the technical picture shows potential, on-chain data reveals significant selling pressure from large holders. According to analyst Ali Martinez, addresses holding between 1 million and 10 million ADA collectively sold approximately 160 million tokens over a four-day period. This substantial movement reduced their total balance from 5.6 billion to 5.44 billion ADA, representing a notable shift in whale positioning.

This isn’t the first time significant whale selling has occurred recently. Martinez previously noted a similar pattern where 530 million ADA was moved over just two days. What’s remarkable about the current situation is that despite this substantial selling pressure—160 million ADA represents over $130 million at current prices—the market has largely absorbed the supply without a dramatic price decline. This resilience around the $0.82 level suggests there is meaningful buying interest meeting the whale selling.

The divergence between aggressive whale selling and relative price stability creates an interesting dynamic. Typically, such concentrated selling would exert more pronounced downward pressure. The fact that ADA has held its ground suggests either distributed buying across a broad base of smaller investors or accumulation by even larger entities. This absorption of supply could potentially set the stage for a stronger move upward if buying pressure intensifies.

Beyond short-term price action, Cardano supporters point to the blockchain’s underlying technology as a key differentiator with long-term potential. Content creator David recently highlighted Cardano’s eUTXO (Extended Unspent Transaction Output) ledger model as a competitive advantage. Unlike the account-based model used by Ethereum and many other smart contract platforms, the eUTXO model offers more predictable transaction execution and enhanced parallel processing capabilities.

This technical foundation could become increasingly important as blockchain adoption grows and scalability demands intensify. The structured nature of eUTXO allows for more deterministic outcomes, meaning users can have higher confidence that their transactions will execute as intended without unexpected failures or cost variations. While this architectural advantage may not drive immediate price action, it represents a fundamental value proposition that could attract long-term developer and institutional interest.

The current market moment for ADA thus represents a convergence of short-term technical factors and longer-term fundamental considerations. Traders are watching the $0.95 resistance level for clues about near-term direction, while investors are considering whether Cardano’s technological foundations justify accumulation during periods of price consolidation. How these factors resolve—whether through a technical breakout or continued consolidation—will likely determine ADA’s trajectory through the remainder of the year.