Cardano (ADA) Whale Accumulation Dynamics and Market Analysis
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Recently, whale activity in Cardano (ADA) has significantly increased, becoming the focus of the market amid price fluctuations. Whales have taken the opportunity of price corrections to accumulate a large amount of ADA, showing confidence in the long-term value of this asset. Here are the latest updates and technical analysis:
Whale Activity and Accumulation Data
New Whale Holdings
During the price drop to $0.9100, whales increased their holdings by 160 million ADA.
Whales holding 10 million to 100 million ADA are the main force behind this round of accumulation.
After cumulative increases, these whales' total assets have reached 12.16 billion ADA.
Large Transaction Trends
During the recent price fluctuations, the Cardano network processed 687 large transactions exceeding $1 million.
Previous similar accumulation behaviors:
November: Whales purchased 130 million ADA during market adjustments.
Beginning of the year: Major shareholders bought ADA for $110 million.
These large investments show that whales are using market corrections to increase their ADA positions, anticipating long-term price increases.
Technical Analysis: ADA Price Trends
1. Current Price Performance
ADA's price recently rebounded from $0.9100 to $1.0034, then further rose to $1.1819, but encountered resistance at this level.
It is currently testing the psychological level of $1.
2. Technical Indicator Signals
MACD Indicator:
The blue MACD line is below the orange signal line, indicating that selling pressure dominates in the short term.
The histogram shows slightly negative values, suggesting that prices may face further downward pressure.
RSI Indicator:
The RSI is 45.33, below the neutral point of 50, indicating that market sentiment is leaning towards neutral to bearish.
If the RSI falls below 30, ADA may enter the oversold area, attracting more buying.
3. Key Support and Resistance Levels
Support Level:
The short-term support level is at $1; if it breaks, it may test the $0.9100 area.
Resistance Level:
The upper resistance level is $1.1819; once broken, the target will look up to $1.25.
The continuous increase in whale activity and the steady development of the Cardano network provide strong support for ADA's long-term prospects. Investors should flexibly adjust strategies by combining technical analysis and fundamentals.
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