Cardano Whales Accumulate 190 Million ADA Amidst Potential Breakout from Consolidation Phase
The post Cardano Whales Accumulate 190 Million ADA Amidst Potential Breakout from Consolidation Phase appeared on BitcoinEthereumNews.com.
Cardano’s latest price movements indicate a decisive moment for whales as they aggressively accumulate ADA, signaling potential volatility ahead. Whale activity surged with total purchases reaching 190 million ADA in just one day, reflecting heightened interest amid a ten-day price range consolidation. “The synchronized whale buying activity depicted deep whale confidence, which powered ADA’s price rise,” noted analysts from COINOTAG. This article explores recent whale activity in Cardano (ADA) and its impact on price movements, highlighting crucial market trends and sentiments. Recent Whale Accumulation and Its Impact on Cardano The recent surge in Cardano (ADA) accumulation by whales comes as the crypto market witnesses slight price fluctuations, primarily contained between $0.65 and $0.75 over the last ten days. This accumulation by substantial investors signifies a potential shift, drawing attention to Cardano’s market dynamics. During the period from March 16th to 19th, substantial purchases were recorded, totaling 50 million ADA within just two days. This aggressive buying spree pushed the price of ADA higher, illustrating a strong belief in Cardano’s future value. Analyzing the Price Factors Behind Cardano’s Stable Range Despite whale buying, ADA struggled to break free from its tight price range. The cryptocurrency faced significant resistance at approximately $0.75, which was further compounded by an earlier false breakout that led to a steep downtrend. Understanding the prevailing market signals is crucial as they could dictate ADA’s near-future performance. For ADA to maintain upward momentum and surpass its current resistance, it needs to clear the $0.75 threshold decisively. Such a move could pave the way to target higher zones valued between $0.90 and $1.00. Conversely, slipping below the $0.65 level could exacerbate bearish sentiments, potentially driving prices to retest lower support levels. Source: TradingView Market Sentiment: The Divergence Between Retail and Institutional Investors The current market sentiment presents a divergence…
Filed under: News - @ March 21, 2025 2:24 am