Cardano (ADA) Shows Signs of Recovery Amidst Recent Price Correction
Cardano Investors Can Take Back Control
Cardano's price has historically reacted to ADA holders' actions, which could be key to recovery. The addresses holding between 1 million to 10 million ADA have purchased more than 30 million ADA worth $14.6 million in the last three days, indicating bullish sentiment from whales.
Cardano Whale Holding
Furthermore, the asset is in the peak accumulation zone, looking at the Market Value to Realized Value (MVRV) ratio. Cardano's current 30-day MVRV of -19% suggests losses for recent buyers, possibly leading to accumulation.
ADA Price Prediction: Recovering the Losses
Cardano's price trading at $0.48 is showing signs of recovery, with the potential to reach $0.56. Failing to breach the resistance at $0.50 could lead to a drawdown to $0.44.
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.