In the past 48 hours, 330 million Cardano (ADA) has been sold by whales in the market. This action has created severe downward pressure and influenced the price of Cardano. While some investors expect market bulls to support ADA’s price, whale behavior has raised concerns in the market, reducing investor enthusiasm and negatively impacting ADA trading volume. According to market data, Cardano’s trading volume has decreased by over 60% in the past 24 hours, reaching $1.84 billion. Some analysts believe that this intense whale selling has reduced investor interest in ADA. Typically, whales sell their assets in price declines and then buy back at lower prices. However, unlike the usual trend, whales have not bought ADA at lower prices this time. This lack of buying interest at the price floor could indicate challenges ahead for Cardano. Despite recent fluctuations, retail investors still have a bullish outlook on ADA. In the last month, this cryptocurrency has failed to break and stabilize above the $1 level. Unlike whales, these investors have taken a cautious approach in the market but remain confident in ADA’s growth. Some analyses suggest that Cardano is nearing the final phase of its consolidation pattern and may break out of the symmetrical triangle by March 2025. If this happens, a long-term bullish trend can be expected for this cryptocurrency. Visit the digital currency’s price page to see live and real-time prices of all tokens and cryptocurrencies.
