Cardano (ADA) Price Analysis: Crucial Support Test Signals New Momentum
Whale Transactions Just Detached From ADA Price
Over the past three months, a detailed analysis reveals a clear correlation between ADA high-value transactions and its market price. Specifically, we're looking at transactions exceeding $100k.
Yet, this established pattern took a surprising turn recently. In just the past few days, the volume of whale transactions shifted as ADA price saw an uptick. From March 6, with 1,192 transactions, to March 14, it dropped to 953. This marks a significant 20% decrease within merely a week.
ADA Price and Number of Transactions Bigger Than $100k. Source: Santiment.
Cardano Battlefield Looks Interesting
Delving into the current state of ADA through the lens of address profitability offers a fascinating snapshot. Currently, a majority of ADA holders find themselves in profit, while about 43% are experiencing losses. This scenario sets the stage for a tug-of-war where holders on both sides influence ADA's price movements.
ADA Price Prediction: Support Re-Test Before Targetting $0.84
Analyzing the ADA In/Out of the Money Around Price chart indicates strong support at $0.72 and $0.70. The IOMAP tool highlights potential price levels where investors may decide to buy or sell based on profit or loss. If ADA breaks resistance at $0.75, it could climb to $0.84, showing a 12% growth potential.
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.