Cardano Whales are Trying to Rescue ADA Price
Cardano's ADA price is showing stabilization signs, supported by significant accumulation from whales and long-term holders.Summary
Cardano (ADA) is exhibiting early signs of stabilization following recent price pressure, with recovery efforts seemingly backed by two key investor groups. On-chain data shows that Cardano whales, specifically addresses holding 10 million to 100 million ADA, have accumulated over 220 million ADA (valued over $61 million) during the price dip, signaling conviction. Concurrently, long-term holders are reinforcing confidence, evidenced by the Mean Coin Age metric rising to a three-month high, suggesting they are HODLing rather than selling. At the time of writing, ADA was trading at $0.278, attempting to hold the $0.271 support level; a successful rebound could target $0.303 and potentially $0.354. Failure to breach $0.303, however, risks a drop to the $0.245 downside target.
(Source：BeInCrypto)