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.