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Author: Rubmar Garcia

Can Cardano Reclaim $1? Analyst Says ADA Price Must Hold This Crucial Level

Cardano (ADA)s price continues to move sideways, holding its range for the past 10 days, while online sentiment grows. Some analysts suggest that a retest of the local resistance could be near if the cryptocurrency holds its crucial support zone. Related Reading: Crypto Sleuth Claims Mysterious $20M Hyperliquid Whale Is Tied To Illicit Activity Cardano Holds Key Range Cardano has retraced 40% from its two-month high of $1.17, dropping to the $0.7 range over the past few weeks. ADA climbed 80% on March 2 after US President Donald Trump announced a Crypto Strategic Reserve, including the cryptocurrency, which sent the token to monthly highs. After its massive pump, the altcoin retraced to $0.9, holding this zone through the following days. However, the March 6 executive order establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile sent ADA below the crucial level. At the time, the White Houses Crypto Czar, David Sacks, clarified that the ADA and the other altcoins named were just used as a reference for the top cryptocurrencies in the market. Since then, Cardano has moved sideways, hovering between $0.68-$0.75. ADA dropped to $0.64 during the March 11 market crash before bouncing. Despite the ongoing price action, online sentiment has been positive towards ADA this week. On Tuesday, on-chain analytics firm Santiment pointed out that Cardano saw a highly positive sentiment on social media. The bullish sentiment was fueled by the Securities and Exchange Commission (SEC) classification of ADAs use case as smart contracts for government services. The news pushed bullishness to its highest rate in over 4 months, the firm noted. Moreover, large-scale investors have also shown positive sentiment toward Cardano, with Whales purchasing around 190 million ADA tokens in the past 48 hours. ADA Breakout Or Breakdown Next? ADA has been in a downtrend since December 2024, when it hit its 3-year high of $1.32. The February market retraces sent the cryptocurrencys price below several crucial support zones, with the token hovering between the $0.60-$0.80 price range. Analyst Sjuul from AltCryptoGems noted ADA has a weird-looking chart, mainly due to the announcement of the strategic reserve. As a result, Cardanos most crucial support level is at $0.66, as it could send it to monthly lows. According to the analyst, That level should hold; otherwise, all this recent price action will result in a distribution phase. Previously, Sjuul affirmed Cardanos chart displayed a Power of 3 in the making, signaling that the cryptocurrency was entering the third phase. This pattern divides the price cycle into three phases: accumulation, manipulation, and distribution. In the last phase, a strong price breakout occurs, with momentum building in the direction opposite to the manipulation. Based on this, if ADA lost the $0.66 mark, the token could see a significant price correction. Meanwhile, a pseudonym trader pointed out that the altcoin shows a bullish reversal after breaking out of a falling wedge pattern. Per the post, Cardano could enter a strong uptrend if it maintains its momentum. Related Reading: Bitcoin To Get Interesting As Price Retests $85,000 Here Are The Levels To Watch Nonetheless, ADA must hold the current support levels and break above the local resistance for confirmation of further bullish continuation to the $1.22 target. Analyst Ali Martinez noted that ADA trades within a right-angled descending wedge, with the upper trendline at $1.15. He suggested that a daily close above $1.15 would push ADAs price to the $2 mark, not seen since 2021. Featured Image from Unsplash.com, Chart from TradingView.com

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Metrics Reveal Cardano Whale Accumulation Is ADA Poised For A Rally?

Author: Sebastian Villafuerte

United Kingdom

Source: NewsBTC

Dec 30, 2024 12:05

Metrics Reveal Cardano Whale Accumulation Is ADA Poised For A Rally?

Cardano (ADA) has faced a challenging period, experiencing a sharp 42% correction since early December, when it reached a multi-year high of $1.32. The retracement reflects broader market uncertainties and profit-taking by investors following its impressive rally. However, recent on-chain metrics point to an intriguing shift in market dynamics: a surge in whale accumulation. Related Reading: Dogecoin Whales Bought Over 90 Million DOGE In 48H Details Top analyst Ali Martinez highlighted key data revealing that major investors have purchased over 20 million ADA in the past 48 hours. This significant activity adds to an ongoing trend of large-scale accumulation by whales, signaling growing confidence in Cardanos long-term potential. The renewed interest from big players comes as Cardano continues to expand its ecosystem with robust development initiatives and partnerships. This accumulation phase could mark a turning point for ADA, as whale activity often precedes market recoveries and future price rallies. While the market remains cautious, Cardanos underlying metrics suggest resilience despite the recent downturn. Investors and analysts are now closely watching these developments to gauge whether this accumulation trend will help ADA regain momentum and climb back toward its previous highs. With whale interest intensifying, Cardano could be gearing up for a notable rebound in the coming weeks. Cardano Whales Keep Buying Cardanos recent price correction has not deterred long-term investors, particularly whales, who seem to be seizing the opportunity to accumulate. This sharp uptick in accumulation suggests that large-scale investors are positioning themselves for a potential price breakout in the near future. Historically, significant whale activity has often preceded major market moves, and this case appears no different. The accumulation trend highlights growing confidence among influential players in Cardano’s ecosystem, even as the market has seen recent turbulence. Analysts speculate that whales could be anticipating upcoming developments or improvements within the Cardano blockchain that may fuel renewed interest and price growth. This trend aligns with broader market dynamics, where smart money often takes advantage of suppressed prices to establish positions before momentum shifts. As a result, the activity of these large holders is being closely monitored by market participants who view it as a critical indicator of ADAs potential direction. Related Reading: A 20%-30% Correction Is The Most Bullish Thing That Could Happen To Bitcoin Analyst While short-term fluctuations persist, the underlying metrics paint a bullish picture for Cardano. If whale accumulation continues, it could serve as a catalyst for ADA to reclaim key resistance levels and potentially break out of its prolonged correction phase. ADA Holding Key Levels Cardano is currently trading above the $0.85 support level despite growing selling pressure in recent sessions. This key level has acted as a critical demand zone, preventing further declines and providing a foundation for potential recovery. However, ADA remains at a crossroads, as its next moves could set the tone for its price trajectory in the coming weeks. If Cardano can reclaim the psychologically significant $1 mark with conviction, analysts predict a strong rally could follow. Such a move would likely pave the way for ADA to challenge its yearly high at $1.32, set during its impressive run in early December. Breaking above this resistance could signal a broader market reversal and renew bullish momentum for the cryptocurrency. However, risks still loom on the downside. Failure to hold current support levels could expose ADA to a deeper retracement, potentially revisiting lower demand zones around $0.75. This scenario would reflect increased bearish sentiment, highlighting the ongoing battle between bulls and bears. Related Reading: Chainlink Is Forming A Head-And-Shoulders Pattern Confirmation Could Take LINK To $14 Traders and investors are closely monitoring these levels, as they could define Cardanos short-term market outlook. With whale accumulation trends and solid on-chain fundamentals providing support, ADA remains poised for significant volatility in the days ahead. Featured image from Dall-E, chart from TradingView

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Cardano Whales Buy The Dip Metrics Show Increasing Demand

Author: Sebastian Villafuerte

United Kingdom

Source: NewsBTC

Nov 28, 2024 12:05

Cardano Whales Buy The Dip Metrics Show Increasing Demand

Cardano (ADA) has captured investors attention after surging to multi-year highs at $1.15, marking an impressive 245% gain since November 5. This remarkable rally has solidified its position as one of the top-performing altcoins in the current market cycle. As the broader cryptocurrency market undergoes consolidation, Cardano continues to stand out with bullish momentum that could signal further upward movement in the coming days. Related Reading: Bitcoin Leverage Remains High Data Reveals Selling Pressure Above $93K Top analyst and investor Ali Martinez recently shared a technical analysis on X, highlighting a significant accumulation of ADA by whales. According to Martinez, large investors have been aggressively buying Cardano, particularly during the weekends price dip, a move that underscores growing confidence in the assets potential. The next few days will be critical for ADA as it navigates a consolidating altcoin market poised for its next major move. Investors are closely watching Cardanos ability to maintain its bullish structure and capitalize on the heightened interest from whales. Should the market turn favorable, ADA could set its sights on new highs, reinforcing its status as a key player in the altcoin space. With whales accumulating and market conditions aligning, Cardanos future remains one of the most exciting narratives in the crypto landscape. Cardano Large Holders Accumulating Cardano is showing strong signs of bullish momentum as large holders, commonly referred to as whales, increase their buying activity. According to data from blockchain analytics firm Santiment, these whales, defined as entities holding over 100 million ADA, accumulated more than 130 million tokens during the recent price dip. Top analyst Ali Martinez brought attention to these metrics on X, emphasizing the importance of whale activity in shaping ADAs market trajectory. Martinez notes that this level of accumulation is a clear signal of confidence from large-scale investors, suggesting that the current rally still has room to grow. Cardanos price, which recently hit a multi-year high of $1.15, could see continued surges as whales add buying pressure to the market. Despite the bullish outlook, some analysts believe a retracement below the $1 mark could provide a healthier foundation for ADAs next major move. Such a pullback would allow the market to consolidate and shake out weaker hands, creating stronger demand zones for the next rally. Related Reading: Ethereum Analyst Predicts $3,700 Once ETH Breaks Through Resistance With whales leading the charge and metrics indicating rising demand, Cardanos bullish trend appears well-supported. The coming days will likely determine whether ADA can maintain its upward trajectory or if a temporary correction will pave the way for its next leg up. Investors are closely watching key levels, with optimism that Cardano will continue to outperform as the altcoin market remains in focus. ADA Testing Liquidity Around $1 Cardano is trading at $0.99, marking a 24% retrace from its recent local highs of $1.15. Despite this dip, the price action suggests ADA is testing a crucial supply zone near the $1 mark, a key psychological and technical level. Reclaiming and holding above this level in the coming days would confirm the continuation of the broader bullish breakout, signaling renewed strength for Cardano. If ADA successfully maintains support above $1, it could pave the way for a swift move back toward $1.15 and potentially beyond as the bullish trend regains momentum. This level is being closely monitored by traders and investors as a marker of resilience, with further upward price action expected if ADA demonstrates strength. Related Reading: Bitcoin Realized Profit Hits ATH At $443 Million Local Top Or Continuation? However, a temporary consolidation below $1 should not be seen as a bearish indicator. Instead, such a move could allow the market to establish stronger demand zones and provide a healthier base for ADA’s next rally. Consolidation phases are often vital in sustaining long-term price trends and shaking out weaker hands. As the market evaluates these critical levels, ADA’s price trajectory will likely depend on whether it can break and hold above $1 or consolidate before the next major move. Featured image from Dall-E, chart from TradingView

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Cardano Faces 30% Correction Risk After Drop In Large Holders Netflow Details

Author: Sebastian Villafuerte

United Kingdom

Source: NewsBTC

Oct 13, 2024 12:05

Cardano Faces 30% Correction Risk After Drop In Large Holders Netflow Details

Cardano (ADA) is currently trading near its yearly lows after months of underwhelming price action. Since early August, the price has struggled to hold above the crucial $0.36 level. This shift has left ADA in a precarious position, with investors and traders watching for signs of a potential recovery. Related Reading: Dogecoin Could Break Yearly Highs Any Moment Now Crypto Analyst Data from IntoTheBlock highlights a significant drop in whale activity over the past month, raising concerns about further downside pressure. The decrease in large transactions suggests that major holders may be stepping back, adding to the likelihood of a deeper correction for the altcoin. If ADA fails to break above the $0.36 resistance in the coming days, a 30% retrace to lower demand levels seems inevitable. Market participants are awaiting confirmation of either a breakout or further declines as the broader market remains uncertain. The next few days will be crucial for determining Cardano’s short-term direction. Cardano Whales Leaving Early? Cardano is at a crucial liquidity level, with on-chain metrics indicating a potential for further decline, especially given the significant decrease in whale activity. Recent data from IntoTheBlock highlights a concerning trend: ADA whales, or large investors, have increasingly sold their holdings over the past month. This trend is evident in the 100% fall in ADAs large holders netflow, which refers to the balance between the amount of the coin these addresses buy and the amount they sell. Large holders are addresses with over 0.1% of Cardano’s circulating supply. When the flow declines, these investors sell more coins than they buy, signaling a potential loss of confidence in Cardano. This lack of confidence often trickles down to retail investors, leading them to sell their holdings. The drop in ADA’s whale concentration over the past month confirms this selling activity, raising concerns about ‘Smart Money’ potentially exiting the Cardano ecosystem. If this trend continues, it could push ADA below its current liquidity level, resulting in a deeper correction. Related Reading: Solana Bullish Pattern Signals Massive Gains Ahead 2021 Rally Could Repeat Market participants are closely monitoring these developments, as the exit of large holders could signal a bearish sentiment that may lead to a significant price decline. As Cardano navigates this critical phase, investors will watch for signs of recovery or further weakness in the coming days. Key Levels To Watch Cardano (ADA) is currently trading at $0.35 after experiencing days of choppy price action below the critical $0.36 resistance level. The price is 15% below the 1D 200 exponential moving average (EMA) at $0.40, a key area of resistance that bulls must overcome to reverse the prevailing downtrend. This crucial level was lost in April, and since then, ADA has failed to close above it four times. If the price continues to struggle, a deeper correction to fresh yearly lows at $0.25 could be in store. Such a move would represent a significant 30% retracement from current levels, further intensifying bearish sentiment in the market. Investors are aware of these critical price points, as a failure to reclaim the EMA and break through the $0.36 resistance may lead to increased selling pressure. Related Reading: Can SUI Fall To $1.40? On-Chain Data Exposes Declining Demand Traders will look for signs of strength or weakness in ADA’s price action to determine the likelihood of a potential breakout or a more profound decline in the coming days. Featured image from Dall-E, chart from TradingView

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