Whales have sold off 180 million ADA tokens over 5 days to take profits.
Cardano's price rebounded from early-week lows and reached above $0.63 after finding support at $0.594.
A fall below $0.50 would indicate a deeper downtrend for Cardano.
If the price stays above $0.60, there are opportunities for buyers to bring ADA's price above $0.63 and target $0.70 and $0.83, but breaking the support at $0.59 may lead to a decline towards $0.50.