Cardano ($ADA ) has been in a recovery phase after dropping 42% from its multi-year high of $1.32 in early December. While market uncertainty has persisted, whale activity signals a potential turnaround.
💹 Whale Activity:
On-chain metrics reveal a surge in $ADA accumulation, with 20 million $ADA purchased by significant investors in the last 48 hours.
Whale stockpiling has historically preceded market recoveries and price surges, indicating growing confidence in Cardano's ecosystem and long-term potential.
💡 Key Price Levels to Watch:
Support Zone: $0.85 - This level has prevented further downside, acting as a strong demand area.
Upside Target: $1.00 - A decisive break above this level could lead to a rally toward $1.32, ADA's annual high.
Risk Zone: If support at $0.85 fails, ADA might test the $0.75 demand zone.
🌐 Ecosystem Expansion:
Cardano continues to strengthen its ecosystem through collaborations and innovations, which may further attract institutional interest.
📈 Outlook:
If ADA reclaims $1.00 with conviction, it may signal the beginning of a bullish phase. However, traders should monitor support levels closely to manage risks.
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