Major Cardano whales have shifted their investment strategy, marking a notable change in market sentiment.
Multiple crypto analysts and market watchers report changing patterns in whale behavior, exchange outflows, and technical indicators that could shape ADA’s trajectory.
Crypto analyst Ali (@ali_charts) reports that Cardano whales have purchased 160 million ADA tokens since the price dropped to $0.91. These large-scale investors had previously taken profits when prices ranged between $1.15 and $1.33. The renewed whale accumulation pattern suggests strong buying interest at lower price levels.
#Cardano whales took profits on the way up from $1.15 to $1.33, but after $ADA dropped to $0.91, they started buying again. In fact, they’ve bought 160 million $ADA since the dip! pic.twitter.com/13RlCnMpIO
— Ali (@ali_charts) December 17, 2024
According to CoinGecko data, ADA trades at $1.03, showing a 6.03% decline in the past 24 hours. The current trading volume stands at $1.6 billion, indicating active market participation despite recent price volatility.
ADA Exchange Outflows Signal Long-term Holding
Market observer Lucid (@LucidCiC) notes substantial ADA movements away from crypto exchanges.
Users have transferred billions of ADA tokens to external wallets weekly. This trend of exchange outflows often indicates a preference for long-term holding over short-term trading.
$ADA Mass Adoption is Here!Cardano users have been sending Billions of $ADA off of Exchanges every week & those Numbers are Only increasing!TVL breaking through an ATH is just the first sign of what is to come for Cardano in 2025!Your Predictions are TOO LOW!$ADA
— Lucid (@LucidCiC) December 18, 2024
The Total Value Locked in Cardano’s ecosystem has reached new heights, marking increased adoption of the network’s decentralized applications and services. These metrics paint a picture of growing ecosystem activity beyond simple token trading.
Read also: Why Is Hedera (HBAR) Price Pumping?
Technical Analysis Points to Key Support Level
Trading analyst InvestingHaven (@InvestingHaven) identifies $0.824 as a vital Fibonacci support level for ADA’s price action in early 2025. The analyst outlines several price scenarios dependent on this support holding.
Source: InvestingHaven
The base case projects a range between $0.83 and $1.88, while a more optimistic scenario suggests potential movement toward $2.55. These projections rely heavily on ADA maintaining price stability above the specified support zone.
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The post Cardano Whales on the Move: Where is ADA Price Headed Next? appeared first on CaptainAltcoin.
