Cardano's ADA is witnessing significant whale activity, with $2.5 million worth of ADA accumulated amid oversold market conditions. Two wallets executed over 10 orders, purchasing a total of 6.46 million ADA at an average price of $0.38, a key support level. This accumulation suggests that larger investors anticipate a potential rally, as daily trading volume surged past $600 million. The price of ADA has been holding steady at the $0.38 support zone, which previously acted as resistance, indicating a possible base for upward movement. Analysts note that the current oversold conditions, with ADA's bubble risk at 0.659, could attract more buyers, potentially leading to a rebound. Traders are closely monitoring whether ADA can maintain momentum and challenge resistance near $0.43, which would signal a shift towards a bullish trend.
Cardano Whales Accumulate $2.5M in ADA, Indicating Potential Rebound
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