Cardano edged higher on Friday, trading around $0.2156 after a roughly 6% decline in the previous session.
The nearly 2% rebound offered some relief, but ADA remained below key moving averages and its former rising support trendline.
Mixed whale activity and weaker derivatives positioning suggest the recovery still faces selling pressure.
Momentum indicators also remained subdued, leaving the $0.20 psychological level in focus if sellers regain control.
Large wallet holdings show mixed trends
Santiment data showed that wallets holding between 10 million and 100 million ADA controlled 37.93% of circulating supply on Friday, down from 38.27% on October 10.
The decline indicates reduced holdings within that cohort, although changes in wallet classifications can also affect these measures.
The largest holders moved in the opposite direction. Wallets holding more than 100 million ADA increased their share to 16.04%, from 15.92% over the same period.
The figures therefore show uneven positioning among large investors rather than uniform selling across all whale groups.
Meanwhile, the proportion of ADA supply in profit fell to 17.8%, from 30.78%.
That means fewer tokens were trading above their acquisition cost.
The metric alone does not establish that holders realized profits, as falling prices can also push previously profitable holdings into losses.
CoinGlass data showed Cardano futures open interest declining 3.3% over 24 hours to $467.97 million.
Falling open interest alongside the recent price decline is consistent with positions being closed and leverage leaving the market.
Because open interest is measured in dollars, lower token prices can also reduce its reported value.
Liquidations totaled approximately $1.08 million, including $1.02 million in longs, showing that bullish leveraged traders absorbed nearly all forced closures.
However, the funding rate remains positive at 0.0038%. Positive funding means long-position holders pay shorts, reflecting a bullish tilt in perpetual futures positioning.
Together, the readings suggest mixed reaction among traders despite Friday’s modest price recovery.
Cardano technical outlook: ADA faces support test at $0.20
Cardano’s daily chart remains bearish below the 50-day Exponential Moving Average at $0.2274 and the broken rising trendline around $0.2282.
These levels form a nearby resistance zone, while the 200-day EMA at $0.2322 presents a higher barrier.
The Relative Strength Index sits near 41, indicating weak momentum below the neutral threshold.
The MACD is declining into negative territory, reinforcing the cautious outlook.
On the downside, immediate support lies at the $0.2000 round figure.
A sustained break below that level would bring the August 30 low at $0.1894 into focus.
For the recovery to strengthen, ADA would first need to overcome the $0.2274–$0.2282 resistance band.
A sustained daily close above the 200-day EMA at $0.2322 would further weaken the bearish setup and improve prospects for a broader rebound.
Until those barriers are reclaimed, Friday’s advance remains a modest recovery within a corrective trend.
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