Cardano is poised to continue growing as whales and institutions accumulate ADA, crypto analysts say - Daily Hodl
According to popular crypto analysts, Cardano's Tier 1 #blockchain (ADA) is poised to continue its long-awaited price hike.
digital asset trader Ali Martinez told 87,300 subscribers of the platform X social network that whales and "institutional investors" are buying up the #Ethereum (ETH) competitor in anticipation of further price increases.
the volume of large #Cardano #ADA transactions on the network exceeded 1 billion pounds in 220 days. These large transactions seem to be due to the high level of accumulation. In fact, whales holding ADA worth ¥100 million to ¥1,000 million or more have increased their positions by more than 1% over the past 100 months
the high buying pressure is starting to affect prices, and from a technical perspective, Cardano appears to be repeating the previous bullish cycle. If this trend continues, ADA could reach 6.6!
Martinez also notes that one of the "key areas" of support that ADA needs to maintain its bullishness is $1 at 0.80. At that price, 48,000 addresses have bought nearly $ 120 billion worth of ADA.
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