Cardano (ADA) Analysis: Whale Activity and Price Challenges

Wednesday, 18 September 2024, 02:33

Altcoin analysis reveals that Cardano (ADA) is facing risks after crypto whales fall short of 20 billion transactions. Despite a potential rally towards $0.40, recent on-chain data highlights a troubling short-term outlook for ADA's price. The decline in large transaction volume suggests weakened interest from major holders, impacting price stability.
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Cardano (ADA) Analysis: Whale Activity and Price Challenges

Whale Activity Shows Decline

Recent altcoin analysis indicates that Cardano's large transaction volume was once impressive. On September 14, the volume stood at 16.25 billion ADA, peaking at 19.50 billion by September 16. However, this has now dropped to 18.44 billion, indicating a lack of activity from crypto whales.

The Impact on ADA's Price

As ADA struggles to maintain its price, it fell from $0.36 to $0.33, affecting the Market Value to Realized Value (MVRV) ratio. Currently, Cardano's MVRV ratio is at -61.25%, revealing significant unrealized losses for holders.

Price Predictions amid Bearish Pressure

Given the indicators, ADA remains vulnerable to bearish trends. The Awesome Oscillator has shifted to negative territory, suggesting a lack of bullish momentum. If ADA closes below $0.35, a decline to $0.30 is anticipated, though a strong resurgence in whale activity could alter this path.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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