140 Million ADA Sold by Whales Amid Cardano Price Recovery
Cardano (ADA) has increased from $0.80 to approximately $0.88 this week. This rise occurs despite whales decreasing their holdings to 5.46 billion tokens. In the last two weeks, investors with 1 million to 10 million ADA sold over 140 million tokens, valued at around $120 million.
Key points include:
- Technical indicators show bullish momentum for ADA.
- A bullish flag pattern confirmed on the 3-day chart suggests a potential upward trend.
- Analysts expect further price increases, with predictions of reaching $1.86, representing a 110% increase from current levels.
- The RSI indicates room for growth before hitting overbought conditions.
- Bollinger Bands suggest volatility; sustaining above $0.85 could lead to targets of $1.05 and $1.20.
- Failure to hold above $0.78 may result in a drop to $0.75 or lower.
ADA price chart with RSI and Bollinger Bands. | Source: Trading View
ADA price chart with MACD. | Source: Trading View