Cardano (ADA) Price to Be Impacted by Opposing Opinions From Key Investor Cohort
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Cardano's (ADA) price recovery faces challenges, primarily due to bearish signals from high-value investors, also known as whales. The transaction volume for trades over $100,000 has significantly decreased from $17.2 billion to $8.4 billion in a quarter. With whales showing reduced participation, the price dynamics now largely depend on retail investors who continue to hold (HODL) rather than sell. Despite ADA's bounce back to $0.36, it struggles to breach the $0.37 resistance level. These dynamics could either lead to further recovery above $0.37 or a potential drop below $0.34, possibly down to $0.32, if the bullish momentum falters.
Source: beincrypto.com ↗
