Cardano (ADA) short sellers lost more than $500,000 in liquidations over 24 hours as the token traded near $0.25, a level one unnamed trader described as "a ticking time bomb."
Cardano Short Squeeze and Whale Accumulation
Exchange data shows more ADA leaving platforms than entering — a pattern typically associated with large holders moving coins into private wallets.
The number of wallets holding 10 million or more ADA recently hit a four-month high, even as the price kept falling.
Of $637,500 in total ADA liquidations over the past day, short positions accounted for nearly 80%. Long liquidations absorbed the remaining $135,200.
A chart shared by Minswap DEX's self-described chief meme officer Mintern on X highlights a horizontal price channel that has contained ADA since early 2022. The token has traded between roughly $0.23 on the low end and $1.18 on the high end for nearly four years.
A descending trendline that formed inside the channel around Aug. 2025, when ADA peaked near $1.02, now intersects the channel's lower boundary. Mintern's post cited an unnamed trader calling for a breakout to $1.20 before the week ends — a roughly 380% gain from current levels.
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ADA Price Swings in Recent Months
ADA has been on a steep decline since the start of 2026. The token opened the year trading in the $0.35–$0.45 range and fell steadily through the first quarter. By Mar. 2026, ADA sat below its 50-day simple moving average near $0.32 and well under its 200-day SMA around $0.52.
Large wallets accumulated roughly 454.7 million ADA worth $161 million between late Nov. 2025 and Jan. 2026, according to on-chain data, even as the price dropped 19%.
The token briefly showed signs of stabilization near $0.29 in mid-March before resuming its slide toward $0.25. Spot ADA ETF filings from Grayscale, VanEck, 21Shares and Canary Capital remain pending and could serve as a significant catalyst if approved.
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