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๐ฑ๐๐Boom in Cardano Whale Transactions Signaled that ADA Price Will Return in the Short Term
Explosion in #Cardano Whale Transactions
Transactions involving a large amount of Cardano (ADA) tokens, the value of which exceeds $ 100,000, have risen to their highest level since November 8, according to the latest findings from on-chain data provider Century.
This significant increase in Cardano whale activity historically coincides with possible price changes in the Ada's market course. In particular, ADA's market capitalization has experienced a significant decline, falling by 43% since March 13, which indicates a period of significant volatility and market adjustments for the cryptocurrency.
Last week, the Cardano (#ADA ) price lost its main support at the level of $ 0.50 and fell to $ 0.45, which is the critical support zone for the altcoin. Oct October If the price experiences a definite decline below its current level, it could potentially trigger additional downward momentum, and the next important support is expected to be $0.4280.
Conversely, the ada's instant resistance is $ 0.4920, followed by the psychological threshold of $ 0.500. A definite breakthrough above this level could trigger a rally and potentially push the ada up to $0.5250 or even $0.5650 if the bullish trend prevails.
Century's data shows a marginal decrease in active ADA wallets in the last three months, which contradicts the signs of a recovery of the market. This anomaly may indicate that the ada is unnecessarily undervalued or that the interest of investors and users is decreasing.
Data from Century reveals a slight decrease of 0.13% in the total number of active Cardano (ADA) wallets in the last three months. This trend makes ADA stand out as one of the few networks that witnessed a decline in wallet activity during this time.
