Cardano bulls are undeterred by a recent price dip below $1 as they withdraw $100 million from exchanges, indicating a potential uptrend. When holders pull tokens, it suggests they aren't planning to sell, thus creating upward price pressure, unlike increased inflows, which signal a willingness to sell.
The Cardano 90-day Mean Dollar Invested Age (MDIA) has declined, signifying heightened trading activity of dormant coins. If this persists, ADA may find it easier to surge if buying pressure mounts. This aligns with a possible price rebound should the exchange outflow rise.
A bull flag forms on Cardano's 4-hour chart, a bullish pattern marked by two rallies separated by consolidation. Initially driven by buying pressure, Cardano might exceed $1.15, potentially reaching $2 should the pattern hold. However, increased selling pressure could drive ADA down to $0.85.
