Cardano has shown early signs of stabilisation as whale wallets accumulated more than 220 million ADA during the recent price downturn.
Addresses holding between 10 million and 100 million ADA added over $61 million worth of tokens, signalling strategic positioning amid broader market volatility.
The large-scale accumulation suggests conviction in a potential recovery, with reduced circulating supply offering near-term price support.
On-chain data also shows the Mean Coin Age metric climbing to a three-month high, indicating that long-term holders are resisting distribution rather than moving older coins to exchanges.
Historically, rising Mean Coin Age reflects dormancy and reduced selling pressure, contrasting with bear market phases where declining averages often precede further weakness.
ADA is trading near $0.278 and attempting to hold the $0.271 level, which aligns with the 23.6% Fibonacci retracement and represents a key structural support zone.
A sustained rebound could target $0.303 and potentially $0.354, while failure to defend $0.271 would expose downside risk toward $0.245 and invalidate the emerging bullish setup.
At the time of reporting, Cardano price was $0.2807.