ADA pinned below $1 as whale activity hits 6-week low
The ADA price is currently suppressed below $1, which comes amid a 6-week low in whale activity. According to on-chain data, there are signs that major investors are moving to reduce trading activity, which could put pressure on the price of this cryptocurrency.
During this period, the price of ADA had strong fluctuations, causing investor psychology to become confused. Some experts say that, without support from whales or other factors driving demand, ADA may have difficulty surpassing the $1 mark in the near term. The analysis also shows that the lack of active trading from large holders could lead to an accumulation or further price decline if there is no new buying.
Investors need to monitor market indices and whale activities to make reasonable trading decisions during this period. It is forecasted that if ADA sustains above the critical support level, a rebound is likely, but if not, downward pressure may continue.
