The post Cardano whales scoop 130M ADA—Is a $1.00 breakout imminent? appeared on BitcoinEthereumNews.com.

Whales acquired 130M ADA at $0.30, reinforcing support and fueling a rally toward $1.00. On-chain data showed 70% of ADA holders in profit as whale activity boosts confidence. Whales recently acquired over 130 million Cardano [ADA] during a price correction. This accumulation occurred as the price dropped to approximately $0.30, a level that has now strengthened as critical support.  Following the buying activity, ADA rebounded and is trading near $0.99, suggesting whale accumulation contributed to price recovery and stability. Whale accumulation and key price levels Crypto analyst Ali reported that whales purchased over 130 million ADA during the recent dip, signaling confidence in the asset’s long-term potential.  This level of accumulation during downturns often serves as a bullish indicator for retail investors, as large-scale buyers tend to act with a long-term perspective. Source: X The $0.30 support level, where accumulation occurred, now appears reinforced, with ADA’s price stabilizing and recovering above $0.35.  Resistance near the $0.36–$0.38 range could determine the next critical price movement, while the psychological barrier at $1.00 is the next milestone for the token. Current market performance and trends ADA was priced at $0.9898, at press time, reflecting a 6.19% increase in the last 24 hours and an 18.47% increase over the past seven days. Its 24-hour trading volume stood at $3.11 billion, and with a circulating supply of 36 billion tokens, ADA’s market capitalization was approximately $35.39 billion. Recent price data shows that ADA’s seven-day range extended from $0.773 to $1.12.  This performance reflects strong demand and trading interest, supported by technical indicators that show sustained bullish momentum. Technical indicators signal bullish momentum The daily chart reveals ADA is holding above the 20-day Simple Moving Average (SMA) at $0.756, which serves as a dynamic support level.  Bollinger Bands are widening, pointing to increased volatility as ADA…

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Filed under: News - @ November 28, 2024 4:19 am