ADA Completed! A whale suddenly sold 70 million ADA!
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The ADA coin may face a significant decline, as a whale dumped 70 million ADA in one go, leading to a direct drop in the ADA price, which is currently close to $0.95. If the downward trend continues, a 20% drop is not impossible, and $0.75 may also struggle to hold.
Although the RSI indicator shows that ADA is close to being oversold, theoretically there should be a rebound, but in the short term, the selling pressure from the whale makes a rebound more difficult.
On-chain data shows that $51 million worth of ADA has flowed out of exchanges, indicating that some people are starting to stock up, but whether this is bullish or bearish cannot be confirmed. It could be long-term holders increasing their positions at low levels.
The current ADA price hovers around $0.92, with a 24-hour drop of 7.5%, and trading volume has also decreased accordingly. Market sentiment is quite volatile, and traders are worried about whether prices will continue to decline.
Overall, the price trend of ADA is unclear, and vigilance is still needed in the short term to avoid being swayed by market fluctuations.
Click on the avatar to watch the live stream and understand the bull market