Whales are pushing Cardano upwards, market and on-chain data show
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The ADA breakout momentum is being fueled by these metrics, which highlight an intensifying accumulation phase by large holders. The price chart shows that's recent performance has been nothing short of extraordinary. The token, which is now trading at about $0.83, has risen above significant resistance levels. The fact that ADA is getting close to its eight-month high versus Bitcoin — a level not seen since June — makes this move noteworthy.
Bitcoin Hits Crucial Price Level: Details, Here's Why Shiba Inu Is Moving Like Snail, Solana Pushes to $300 as Billions in Volume Flow Inin the event of a correction, are important support levels on the downside. These areas have seen a lot of historical activity, making them possible places for buyers to accumulate wealth. A clear break above $0.85 might open the door for a rally toward the psychological barrier of $1.00.
In the near future, such a scenario seems likely given the current on-chain activity and whale interest. In summary, Cardano may continue on its upward trajectory given its recent decoupling and whale activity. Investors should keep a careful eye on transaction volume and whale activity, as these indicators will probably determine ADA's next course of action. If the trend continues, ADA may establish itself as one of the market's best-performing assets.
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