While the price of Cardano (ADA) continues to consolidate near a crucial level of support of $ 0.65, whales and investors seem to take advantage of this opportunity. Recently a prominent crypto expert on X (formerly Twitter) placed that whales have bought millions of dollars in ADA -Tokens in the last three days.
Buy whales 130 million ADA -Tokens
In a post on X, the expert emphasized that Crypto -Walfissen bought nearly 130 million ADA tokens for the past 72 hours. This substantial ADA purchase through whales indicates a possible buying, because the price has fallen considerably in recent days.
Impact on the ADA price
The impact of this substantial ADA purchase has begun to think in the price of the asset. According to Coinmarketcap data, Ada is currently near nearly $ 0.75, after he has risen more than 4% in the last 24 hours. Moreover, the trade volume of the active period in the same period increased by 10%, which indicates an increased participation of traders and investors who want to benefit from the current price.
Cardano (ADA) Technical analysis and upcoming levels
According to the technical analysis of the expert, Ada Bullish seems because it has been broken from a small consolidation phase that it had experienced the past five days and is currently being traded above that zone.
Based on a recent price promotion and historic momentum, if it is actively closing a daily candle above the level of $ 0.75, it will confirm a successful outbreak and could rise by 13% in the coming days to reach $ 0.85.
After the outbreak, ADA has risen above the 200 exponential advancing average (EMA) on the daily period, which confirms the upward trend.
The over-pasted positions of ADA traders
Apart from these bullish prospects, intraday traders seem to bet strongly on the bearish side, as reported by the on-chain analysis company Coinglass.
The data showed that traders are currently being used too much for $ 0.724 at the bottom, with Bulls for $ 9 million in long positions. In the meantime, $ 0.763 is another livered position where traders betting on the short side have for $ 13 million in positions.
This data clearly reveals the sentiment of traders despite the outbreak.
Credit : coinpedia.org
