The post Cardano Eyes Uptrend as Whales Cut ADA Holdings appeared on BitcoinEthereumNews.com.

Cardano (ADA) shows renewed strength, up more than 10% in the last 24 hours. Its market cap is now at $26.5 billion. Trading volume has surged 50% over the same period, reaching over $900 million, signaling rising interest and activity. As ADA forms an early-stage uptrend, technical indicators like ADX and EMA suggest growing momentum and the potential for a bullish breakout. However, a six-day decline in whale wallets raises caution, highlighting a possible divergence between price action and large-holder behavior. Cardano ADX Rises: Is a Stronger Move Coming? Cardano’s ADX (Average Directional Index) has climbed to 18.08, up from 14.88 a day earlier, signaling growing trend strength. This shift comes as ADA starts forming an early-stage uptrend, with higher lows beginning to appear on the chart. While the price hasn’t broken out decisively yet, the rising ADX suggests that underlying momentum is building. Traders often monitor these early ADX increases as potential signals of a larger move ahead, especially when paired with bullish structure. ADA ADX. Source: TradingView. The ADX is a widely used technical indicator that measures the strength, but not the direction, of a trend. Readings below 20 typically indicate a weak or ranging market, while values between 20 and 25 signal that a trend is forming. A move above 25 confirms a strong, active trend. With ADA’s ADX now at 18.08 and steadily rising, the indicator is approaching the critical threshold that could validate a strengthening uptrend. If the ADX crosses above 20 and price continues to climb, it could attract more bullish momentum and increase the chances of a sustained rally. ADA Whale Wallets Drop for Sixth Day—Caution Ahead? Despite Cardano forming an early-stage uptrend, the number of ADA whale wallets holding between 1 million and 10 million ADA has been quietly declining. There are…

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Filed under: News - @ May 8, 2025 10:25 pm