Cardano’s ADA token presents a classic dilemma for cryptocurrency traders: an asset sitting deep in oversold territory, yet lacking the momentum to spark a meaningful recovery. According to technical analysts, ADA is currently trapped in what’s described as a ‘dark red zone’ of heavy pressure and exhaustion, where low prices alone do not constitute a buying signal. The consensus is clear—the market awaits a decisive daily close above the $0.45 level as confirmation that bulls have regained control, shifting focus from finding a bottom to timing an escape.
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0 posts last weekCardano Whales Accumulate $204M ADA Amid Price Recovery
Cardano’s ADA token has staged a remarkable 20% recovery from recent lows, fueled by significant accumulation from large investors. On-chain data reveals whales and sharks have purchased nearly 1% of ADA’s circulating supply worth over $200 million during the past week. This substantial buying activity suggests renewed institutional confidence despite ongoing market volatility, with network fundamentals showing parallel strength in DeFi and NFT sectors.
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