Cardano (ADA) is experiencing bearish pressure, trading below $0.250 as whales reduce their holdings. On-chain data from Santiment reveals that large investors have offloaded approximately 80 million ADA tokens since April 19, while some larger entities have accumulated around 60 million ADA, indicating a shift in accumulation trends. This behavior suggests potential short-term downside risk as mid-sized whales sell and larger entities absorb supply. Cardano's derivatives data also reflects a bearish sentiment, with open interest falling to $444 million and a long-to-short ratio of 0.80, the lowest in over a month. Despite a positive funding rate suggesting mild bullish sentiment, ADA remains technically weak, facing resistance at the 50-day EMA of $0.258. Immediate support is at $0.245, with potential further declines to $0.220 if the bearish trend continues. A recovery would require a close above $0.258, potentially targeting higher resistance levels.