Cardano (ADA) price action continued to respect its broader trendline over the past week despite recent pullback. It traded around $0.88 at press time, reflecting a 0.62 percent daily decline.
The token was down 0.22% over the past week but still showed a 5.2 percent gain in the past month. Whale selling activity created pressure on buyers to sustain support.
Cardano Current Price Action
The Cardano price traded close to $0.90, slightly below the resistance zone seen earlier this month. Market data showed the token holding along an ascending trendline, forming higher lows since early August.
Analysts said this structure signaled steady momentum, though it weakened after the recent pullback.
Green candles earlier in the month appeared with rising volumes, suggesting traders added exposure during dips. Buyers continued to defend support, reinforcing the broader bullish setup.
Analyst Mr. Banana previously highlighted $0.95 as the next zone of interest for ADA price. That level was no longer in play at press time, but the $1 mark remained a psychological resistance point for future rallies.
The relative strength index (RSI), which measured speed and size of recent moves, was near mid-range at the time of writing.
That indicated no overbought signals, leaving room for further price action if momentum returned.
ADA Price Longs Gain, Shorts Lose Heavily
In more Cardano news, fresh positioning data from TapTools showed that traders holding long ADA contracts posted significant gains earlier in the rally.
The largest open long, valued near $4.7 Million, was up almost $1 Million. Another long near $1.4 Million posted gains above 25 percent.
Short positions showed the opposite. Losses ranged from 6 percent to nearly 24 percent, according to TapTools figures.
The imbalance suggested traders betting against ADA price were forced to cover, amplifying the upward move.
Covering shorts often add demand in short timeframes, since traders must buy back positions. Analysts said this pattern supported momentum toward earlier resistance zones.
Sustained imbalance between profitable longs and pressured shorts could extend the trend if demand strengthened again.
Analysts Projected Long-Term Fibonacci Range For Cardano Price
Analyst Ali Martinez reviewed longer-term Fibonacci extensions, a tool that measured likely targets based on retracement and expansion levels.
He said ADA showed similarities to its past cycle, when the token peaked near the 1.272 Fibonacci extension.
The press time price held close to $0.90. This area sat just above the 0.236 retracement, often seen as a foundation for further moves.
If the cycle repeated its structure, Martinez projected ADA could extend into a $3 to $6 range.
Such long-term projections depended on ADA holding higher lows and sustaining its ascending trendline.
The analyst said the setup aligned with current positioning data, where long traders stayed in control despite recent volatility.
Whale Selling Tested Recent Breakout
In recent Cardano news, while buyers gained short-term control earlier this month, on-chain data showed significant selling from large holders.
According to Martinez, whales sold nearly 530 Million ADA in the past 48 hours. Large transactions of this scale often introduced new supply into the market, challenging buyers to absorb the pressure.
The selling wave followed ADA’s attempt to break above $0.93 earlier this month, raising questions about whether the move could hold.
Analysts said the broader structure remained intact as long as ADA respected the trendline support. Sustaining those levels would confirm resilience even against whale activity.
If buyers failed to absorb supply, momentum could slow. If they succeeded, the breakout path toward $1 would remain valid.
Either outcome depended on market depth and liquidity at the current levels.
Outlook Focused on Key Support Levels
Analysts said maintaining the trendline could open the door to retests of higher levels, with $1 remaining the next major psychological milestone.
Longer-term Fibonacci projections suggested higher potential if historical patterns repeated. However, whale selling remained a risk factor, putting pressure on short-term moves.
The near-term market direction depended on whether buyers could absorb large sales while maintaining higher lows.
That outcome would decide whether ADA’s longer-term bullish setup will stay intact or weaken into consolidation.