Bearish Signal for ADA as Cardano Whale Activity Lulls
Bearish Signal for ADA as Cardano Whale Activity Lulls
Cardano (ADA) now faces significant bearish signals with a whale and DeFi activity drop, while testing price support. Investors see a neutral-to-bearish outlook in ADA's short-term price forecast, bringing uncertainty for the week.
Cardano whale activity
Among some relevant indicators, the ecosystem expert, Ali Martinez, pointed out that Cardano is experiencing a 'lull in whale activity', potentially leading to consolidation or lower prices for ADA's token.
Cardano ADA bearish price analysis
From a technical perspective, ADA is consolidating at an important price support of around $0.58 per token. However, there are indications of a potential downtrend continuation towards the $0.45 mark based on technical analysis and ecosystem TVL rankings.
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