Recent whale activity within the Cardano ecosystem has drawn interest from investors and analysts. Santiment reports that whale transactions exceeding $100,000 have reached their highest point since November 8, potentially signaling a price reversal for ADA.
Cardano’s market cap has seen a notable decline, shrinking by 43% since March 13, raising questions about the factors affecting ADA’s market position. Additionally, a 0.13% decrease in active Cardano wallets over the past three months adds complexity to the ongoing narrative surrounding the cryptocurrency.
Despite these challenges, ADA is currently priced at $0.454282, with a 24-hour trading volume of $294,789,312. Although ADA has seen a slight decrease of 0.18% in the last 24 hours, technical indicators suggest potential buying opportunities. The one-day stochastic RSI trading below the signal line indicates oversold conditions, while the one-day MACD trading above the signal line suggests possible short-term bullish momentum for ADA.
Read More >> https://cryptotale.org/whale-frenzy-cardano-transactions-exceed-100k-hitting-new-highs/
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