Recently, ADA seems to be undergoing a turbulent storm both internally and externally, and amidst this turmoil, the dynamics of the whales have reached an unprecedented level of activity, as if they are targeting the important threshold of $2, gearing up to break through!
Although the overall market sentiment remains somewhat optimistic, ADA experienced a drop of 2.84% yesterday. However, from a longer time perspective, it achieved a rise of 4.59% this week, and last month recorded an astonishing increase of 47.55%!
These fluctuations seem to have little impact on the whales. Not only have they chosen not to flee, but they have also become more active, leading to a reduction in the supply of ADA on exchanges. This phenomenon appears to have built a solid bottom for the price of ADA, indicating that it may soon begin a new round of upward momentum. Especially those whales, who have crazily scooped up over 80 million ADA in the past two days, spending as much as 85.6 million USD.
However, the market is not smooth sailing. Despite the whales increasing their holdings, the battle between bulls and bears is exceptionally fierce, with both sides having balanced power, causing the price of ADA to be stuck in a deadlock. This tug-of-war is full of uncertainty, making it difficult to predict the next trend.
From a technical perspective, ADA is currently in a consolidation phase, with prices fluctuating between $1.02 and $1.14. However, once it successfully breaks through the key resistance level of $1.14, a new round of upward momentum may begin. Analysts predict that if a breakthrough is achieved, the price of ADA could soar to $1.63, representing an astonishing increase of 43%.
Of course, the market is not without risks. If the price of ADA falls below the important support level of $1, it may trigger a downward trend, possibly even dropping to $0.78. Fortunately, ADA still has an upward trend line as support, so the possibility of a significant drop is relatively small.
Looking to the future, people are filled with anticipation for ADA. Some believe that ADA is likely to reach high points of $1.46, $1.76, or even $2.04. Even bolder analysts predict that during the next super cycle, the price of ADA could soar to between $3 and $7, or even reach the sky-high price of $14.
Current signs in the market indicate that ADA may be on the verge of a rebound. Selling pressure has eased, whales are increasing their holdings, and short-term trading volume has decreased. In this market battle, can ADA break through successfully and welcome a new glory? Let’s wait and see!
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