The #Cardano price remains in a descending channel, and investors are expecting a breakout of the 0.37 resistance level. The Whale sold 140 million #ADA , which not only indicates caution but also points to potential buying opportunities for small traders.
If ADA succeeds, it is expected to rise 40% to ¥0.51, but if it fails, it could fall to ¥0.31.
The Cardano (ADA) price has been stuck in a downtrending channel for the past five months, looking for a breakout. Despite some volatility, cryptocurrencies are still poised for potential growth. However, recent events, including a significant sell-off by whale investors, have created uncertainty in the market and raised questions about the altcoin's future trajectory.
Cardano whale investors are increasingly skeptical of short-term ADA price fluctuations. Most recently, the address, which holds between 10,000 and 10,000 million ADA, sold about 5,000 million tokens for more than $14,000, indicating a cautious attitude toward the #cryptocurrency .
This move has raised concerns, but in the past, similar asset sales have led to positive results. Large whale sales often create potential buying opportunities for smaller investors. Nevertheless, market sentiment remains cautiously optimistic. While the collapse has put short-term pressure on it, the long-term outlook suggests that the decline caused by the whales may have a reverse effect on prices.
On a macro level, Cardano continues to show strong dynamics, despite the recent fluctuations. The overall market sentiment towards the project remains good. This suggests that ADA may still be on the verge of significant growth, despite the short-term volatility, supported by positive market dynamics.
The price of Cardano is approaching the end of the descending channel, which held its movement for the last 5 months.
If ADA successfully breaks the 0.
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