Cardano（ADA）價格反彈25％，但鯨魚拋售引起了人們的關注。

Cardano（ADA）試圖從最近的經濟下滑中恢復過來，但有些鯨魚可能早就退休了。大型持有人顯然已經傾倒了超過1.8億ADA

Cardano (ADA) is attempting to recover from its recent downturn, but some whales may be retiring early.

Cardano（ADA）試圖從最近的低迷中恢復過來，但有些鯨魚可能早就退休了。

In the last five days, large holders have apparently dumped over 180 million ADA, which has raised concerns in the cryptocurrency market.

在過去的五天中，大型持有人顯然已經傾倒了超過1.8億ADA，這引起了加密貨幣市場的關注。

Cardano Whales Pull the Trigger Amid ADA Price Rebound

Cardano鯨魚在ADA價格反彈的情況下拉動扳機

Since hitting a low of $0.50 in April, ADA has experienced a slight recovery, increasing more than 25%. Bulls are cautiously optimistic about this comeback, which is being driven by rekindled interest and some respite in altcoin sentiment. However, Cardano’s largest bag holders have taken notice of the bounce.

自從4月達到0.50美元的低點以來，ADA經歷了輕微的恢復，增長了25％以上。公牛對這種捲土重來持謹慎的態度，這是由興趣重新點燃的興趣和一些喘息的興奮所驅動的。但是，Cardano最大的袋子持有人注意到了反彈。

According to Santiment’s on-chain statistics, whales offloaded about 180 million ADA.

根據Santiment的鏈統計，鯨魚約有1.8億ADA。

This aggressive action may have been motivated by whales' desire to lock in profits following the brief surge. This divergent behavior highlights the increasing cryptocurrency market uncertainty, even as retail and mid-tier ADA investors seem to be holding or buying into the decline.

這種積極的行動可能是出於鯨魚渴望在短暫湧現之後鎖定利潤的願望而激發的​​。這種不同的行為強調了加密貨幣市場不確定性的日益增加，即使零售和中期ADA投資者似乎正在持有或購買。

Top analyst Ali Martinez noted that this wave of selling coincides with Cardano stalling at critical resistance levels, particularly around $0.66. With the ADA price failing to break through, whales may be anticipating another leg down, especially as macroeconomic tensions continue to weigh on risk assets.

頂級分析師阿里·馬丁內斯（Ali Martinez）指出，這種銷售浪潮與卡爾達諾（Cardano）停滯的關鍵阻力水平相吻合，尤其是0.66美元左右。隨著ADA的價格未能突破，鯨魚可能會預計另一隻腿會降低，尤其是當宏觀經濟緊張局勢繼續壓在風險資產上時。

ADA Caught in a Tug-of-War Between Bulls and Bears

艾達陷入公牛和熊之間的拔河比賽中

Currently trading at around $0.63, ADA is struggling to rise above the crucial resistance level of $0.66. Bulls are having difficulty gaining traction in the absence of a clear catalyst, as this level has continuously stopped upside momentum. The approaching 200-day moving average, which is at around $0.75 and acts as a significant benchmark for validating a true bullish reversal, is adding to the pressure.

ADA目前的交易價格約為0.63美元，正努力提高至關鍵的阻力水平0.66美元。在沒有清晰的催化劑的情況下，公牛很難獲得吸引力，因為這個水平不斷停止上升空間。即將來臨的200天移動平均水平約為0.75美元，它是驗證真正看漲逆轉的重要基準，這增加了壓力。

Chart 1: Cardano/TedherUS chart, published on TradingView, April 19, 2025

圖表1：Cardano/Tedherus圖表，於2025年4月19日在TradingView上發布

Meanwhile, if ADA price breaks below the $0.60 support level, analysts warn it could revisit the $0.50 zone, a level ADA price last saw during its March sell-off. This would reinforce the bearish case, especially if whale distribution continues.

同時，如果ADA的價格突破低於0.60美元的支持水平，分析師警告說，它可以重新訪問0.50美元的區域，這是ADA價格在3月份拋售期間最後一次看到的。這將加強看跌案，尤其是在鯨魚分配繼續下去的情況下。

Rising geopolitical uncertainties, especially the protracted US-China trade dispute, inflation concerns, and impending regulatory moves, are largely to blame for the market's caution. Due to this, even assets with long-term plans and robust development activities, like Cardano, have suffered from cautious investors dropping out.

地緣政治不確定性的上升，尤其是曠日持久的美國 - 中國貿易爭端，通貨膨脹問題和即將發生的監管行動，這在很大程度上要歸咎於市場的謹慎。因此，即使是具有長期計劃和強大開發活動的資產，也是Cardano，也遭受了謹慎的投資者退出的困擾。

However, not everyone sees doom ahead. Some analysts believe that once global macro conditions stabilize, ADA could stage a more impressive comeback, especially with ecosystem upgrades, smart contract adoption, and DeFi growth on the horizon.

但是，並不是每個人都看到厄運。一些分析人士認為，一旦全球宏觀條件穩定，ADA可能會出現更令人印象深刻的複出，尤其是隨著生態系統升級，採用智能合同和DEFI增長即將到來。

Can Cardano Flip the Script?

Cardano可以翻轉腳本嗎？

Looking ahead, ADA’s next move depends on whether it can hold its $0.60 support and reclaim $0.66 resistance with conviction. A decisive push above $0.75 could revive bullish momentum and send the ADA price on a recovery path. However, if selling pressure resumes and support fails, ADA risks slipping into deeper losses.

展望未來，ADA的下一步行動取決於它是否可以持有其0.60美元的支持並以信念收回0.66美元的抵抗。果斷的推動力超過$ 0.75可以振興看漲的動力，並在恢復道路上發送ADA價格。但是，如果銷售壓力恢復和支持失敗，ADA可能會陷入更深層次的損失。

With whale activity often acting as a leading indicator, many are watching closely to see if this dump was just smart profit-taking or the start of another leg down.

由於鯨魚活動通常充當領先的指標，許多人都在密切關注，以查看此垃圾場是否只是明智的盈利或另一支腿的開始。

Last Thoughts: ADA’s Make-or-Break Moment Is Here

最後的想法：艾達（Ada）的成敗時刻在這裡

The recent whale exodus raises a big question: Is this a routine exit after a rally, or a red flag for deeper downside? Cardano remains in a tight spot, stuck between promising fundamentals and macro-driven fear. For now, ADA investors will need to keep a close eye on key levels and on-chain trends. Whether this is the calm before a bullish breakout—or a setup for further decline — will likely become clearer in the days ahead.

最近的鯨魚出埃及記提出了一個很大的問題：這是集會後的常規退出，還是危險信號以使其更深層的下行一面？卡爾達諾（Cardano）仍然處於一個緊密的位置，陷入了有前途的基本面和宏觀驅動的恐懼之間。目前，ADA投資者將需要密切關注關鍵水平和鏈上趨勢。這是否是看漲突破之前的平靜，或者是進一步下降的設置，在未來的日子裡可能會變得更加清晰。