Cardano (ADA) Whale Accumulation Dynamics and Market Analysis
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Recently, whale activity for Cardano (ADA) has significantly increased, becoming the focus of the market amid price fluctuations. Whales have taken the opportunity of price corrections to accumulate a large amount of ADA, demonstrating confidence in the long-term value of the asset. Here are the latest updates and technical analysis:
Whale Activity and Accumulation Data
New Whale Holdings
During the price drop to $0.9100, whales increased their holdings by 160 million ADA.
Whales holding between 10 million and 100 million ADA are the main force behind this round of accumulation.
After the accumulation, these whales' total assets reached 12.16 billion ADA.
Large Transaction Trends
During the recent price fluctuations, the Cardano network processed 687 large transactions exceeding $1 million.
Previous similar accumulation behaviors:
November: Whales purchased 130 million ADA during market adjustments.
Beginning of the year: Major shareholders acquired ADA for $110 million.
These large investments indicate that whales are utilizing market corrections to increase their ADA positions, anticipating long-term price increases.
Technical Analysis: ADA Price Trends
1. Current Price Performance
ADA's price recently rebounded from $0.9100 to $1.0034, then further increased to $1.1819, but faced resistance at this level.
It is currently testing the psychological level of $1.
2. Technical Indicator Signals
MACD Indicator:
The blue MACD line is below the orange signal line, indicating that selling pressure dominates in the short term.
The histogram is slightly negative, suggesting that the price may face further downward pressure.
RSI Indicator:
RSI is at 45.33, below the neutral point of 50, indicating that market sentiment is leaning towards neutral to bearish.
If the RSI falls below 30, ADA may enter the oversold zone, attracting more buying interest.
3. Key Support and Resistance Levels
Support Level:
The short-term support level is at $1; if it breaks, it may test the $0.9100 area.
Resistance Level:
The upper resistance level is at $1.1819; if broken, the target will look towards $1.25.
The continuous increase in whale activity and the steady development of the Cardano network provide strong support for ADA's long-term prospects. Investors should flexibly adjust their strategies by combining technical analysis and fundamentals.
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