🔮 Cardano Price Forecast as Whale Activity Explodes; KangaMoon Offers Opportunity 🐋🚀
📉 Cardano (ADA) has dipped below a key level amid Bitcoin's struggle to reclaim $64k. On-chain data shows a spike in whale activity, suggesting a potential reversal. 🐋
🔮 ADA's price has been on a downtrend since mid-March, down 31% in the past month and with a 43% decrease in market cap since then. Despite reaching an all-time high of $3.09 in September 2021, ADA has lagged behind peers, gaining just over 12% in the past year.
📉 ADA's dip below $0.50 brought it to critical support near $0.41, with signs of a potential bearish continuation due to a descending triangle chart formation. The RSI and MACD indicators on the daily chart also favor bears. However, massive whale activity above $100,000 suggests a potential price reversal, historically correlating with bullish trends. 📈
