Cardano risks further losses as whale holdings decline

Key takeaways Cardano (ADA) consolidates below $0.20 on Monday after losing 21% in October, with support holding around $0.1894. Large investors holding between 10 million and 100 million ADA have reduced their share of circulating supply from 38.03% to 37.45%. Technical indicators remain bearish, with a break below $0.1894 potentially exposing ADA to further declines toward $0.1712 and $0.1537. Cardano (ADA) is struggling to regain momentum on Monday, trading below $0.20 after a difficult October that wiped 21% off its value. The cryptocurrency has managed to hold above the $0.1894 support level, but declining whale holdings and weakening derivatives activity suggest that buyers are still reluctant to return. ADA has been relatively stable since Thursday’s nearly 8% selloff, although there is little evidence of a meaningful recovery taking shape.

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