Cardano (ADA) has been through a rollercoaster of volatility, with the price experiencing significant ups and downs over recent weeks. After hitting a local top of $1.32, ADA retraced over 30%, dropping to $0.91 before returning to a critical support level. This price action has left investors speculating whether the current recovery marks the start of a new bullish phase or simply a temporary pause before further downside.
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Top analyst Ali Martinez recently shared key insights on X, leveraging Santiment metrics to shed light on whale activity driving Cardano’s market movements. According to Martinez, large ADA holders began taking profits as the price rallied from $1.15 to $1.33. However, the story shifted dramatically as ADA dropped below $1, with whales accumulating again at the $0.91, signaling renewed confidence in the token’s potential.
With whale activity and market dynamics heating up, Cardano has returned to a pivotal price range that could define its trajectory in the coming weeks. Investors are now closely watching whether this accumulation phase will fuel a sustainable rally or if further consolidation lies ahead for ADA. One thing is certain—Cardano remains a token to watch as volatility continues to shape its price action.
Data Reveals Cardano Whales Behavior
The past few weeks have been highly volatile for Cardano (ADA), reflecting the broader market’s unpredictable movements and the strategic plays of smart money. ADA has become a focal point for large investors making calculated moves as the market evolves.
Top analyst Ali Martinez recently highlighted data from Santiment that underscores the pivotal role of whale activity in shaping ADA’s price action. Martinez revealed that Cardano whales began offloading their holdings as the price rallied from $1.15 to $1.33, locking in significant profits. However, as the price dropped sharply to $0.91, these same whales re-entered the market, purchasing an impressive 160 million ADA during the dip.
This buying spree has sparked optimism, suggesting that smart money views Cardano as bullish over the coming months. Such activity often indicates confidence in the asset’s potential to rebound and possibly outperform. However, it’s crucial to consider an alternative perspective. This accumulation phase might also serve as a…
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