📉 Whales Dump ADA, Price Drops
Cardano whales have sold 170M ADA, reducing holdings from 3.26B to 2.98B ADA. This sell-off coincided with ADA’s price dropping from $0.83 to $0.65, signaling a bearish sentiment among major holders.
🔎 Market Interest Surges
Despite the decline, Google searches for Cardano spiked by 90%, indicating growing curiosity among investors. Polkadot (DOT) and Luna Classic (LUNC) also saw 110% increases in search volume, highlighting renewed market attention.
📊 Key Support at $0.65 – Breakout or Breakdown?
ADA is trading near crucial support at $0.65. If it holds, it could rally towards $1.00 and possibly $3.00. A more bullish scenario could even push ADA to $7.50. However, if ADA drops below $0.65, it could fall towards $0.30, confirming bearish momentum.
📈 Recovery on the Horizon?
The Stochastic RSI suggests ADA is nearing oversold territory, hinting at a potential rebound. Holding above $0.65 could pave the way for bullish momentum, while losing this level may trigger further downside.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
Top comments (0)