$ADA The reason for the plunge is here. Whales are selling off, and 70 million ADA tokens are gone!

Just today, a whale sold off 70 million ADA tokens at once. This big drop happened in the last 48 hours, and it feels like the market is about to collapse. Moreover, the impact of this big drop was immediately reflected in the price of ADA. From the beginning of the drop to now, the price has dropped by more than 20%.

Let's talk about ADA's technical analysis and price prediction. As soon as the price fell, ADA directly fell below the very important support level of $0.95, and the closing price was lower than this level. According to the recent trend, if the closing price of this altcoin is still lower than this support level, it is very likely to fall another 20%, directly to $0.75.

However, there is an indicator called the relative strength index, which says that ADA has fallen a bit hard now, and may be close to the bottom, and there is potential for a rebound. However, the big whale is still selling continuously, which makes the short-term rebound less certain.

Let me tell you another piece of data. In addition to the recent big sell-off in the past 48 hours, some people who have held ADA for a long time seem to be quietly collecting it. On the exchange side, more than $51 million worth of ADA tokens have flowed out. That is to say, some people have withdrawn a lot of money from the exchange, perhaps because they think the price is low now and want to stock up.

So, looking at these political and market situations, some people think that now that the price of ADA is low, it is a good time to buy in and take advantage of the opportunity to pick up a bargain.

The price of ADA is now hovering around $0.92, and it has fallen by more than 7.5% in the past 24 hours. This drop has made traders and investors panic, and the trading volume has also dropped.

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