Whales Purchase 100M ADA: Possible Rally in ADA Cardano on the Horizon?
Big news in the crypto world today—whales are scooping up a staggering 100 million ADA! This surge in big buyers has everyone talking about Cardano.
After a bit of a slump following a drop in Bitcoin’s price, ADA is back in action. Since November, Cardano’s price has shot up by an impressive 250%, even breaking through the $1 mark. But the bullish run hit a speed bump around $1.20 when the ADA Cardano price paused with three doji candlesticks.
However, the recent pullback below $1 led to a 30% gain in just one week. And according to technical chart analysis, there could be more to come. Whales are making moves, with Cardano Whales snagging 100 million ADA in the last 24 hours. Analysts are optimistic, suggesting that the ADA price is gearing up for another rally.
At the moment, ADA is holding steady at $1.16, with a market capitalization of $41.79 Billion and a 24-hour trading volume of $2.37 Billion. While trading volume has dipped slightly, the battle between bulls and bears continues. The resistance level around $1.25 remains crucial, signaling potential gains if broken.
Based on recent trends, buyers may be in for a winning streak if the price stays above the 20-day EMA. Breaking through the key resistance levels could push the ADA price up to $2. But if support falters, bears might take over.
With all eyes on Cardano, the near future of ADA hangs on its ability to conquer those resistance levels. Stay tuned for more updates, and remember—crypto investments come with risks, so do your research before diving in!
