Significant Sales by Large-Scale Cardano Investors Displease Traders; Inquiry about ADA Token Reaching Record Highs

In the realm of Altcoin News, a significant development is unfolding for Cardano (ADA). The current market capitalization of ADA stands at $29.95 billion, with a 24-hour trading volume of $848.08 million.

Recent whale activity has been a talking point, with 50 million ADA being sold in the past 48 hours. However, an interesting trend has emerged as whales are now accumulating ADA at lower prices, as evidenced by the recent move from $0.78 to $0.82.

The current price of ADA is $0.8244, and it is trading at the Fibonacci 0.382 retracement level of $0.82. This level is considered a potential decisive point, and the support zone at $0.80-$0.82 is crucial for ADA. If this support holds, it could provide a base for recovery, potentially leading to another leg higher, possibly bringing ADA back above $1 in the months ahead.

Crypto King, a well-known analyst, suggests that if ADA maintains its current channel, it could potentially retest the $1 level, with possible extensions to $1.20 and $1.40. However, if the support zone breaks, further price declines may occur.

The sentiment towards ADA has turned bearish, but it remains attractive for dip buyers. If the support zone at $0.80-$0.82 holds, ADA could potentially be the "next crypto to explode" in 2025. Interestingly, independent analyst Quantum Ascend refers to the current ADA price zone as a "make-or-break zone."

It's important to note that while the information presented here is accurate and timely, it's crucial to verify all data and consult with a professional before making any financial or investment decisions.

In addition, the ratio of positive to negative comments on ADA has collapsed to 1.5:1, indicating a shift in public sentiment. However, recent data shows large holders ("whales") with over 10 million ADA increasing their holdings to approximately 18.79 billion tokens, signaling continued accumulation and bullish expectations, while medium-sized investors have slightly reduced theirs. This suggests ongoing interest and potential further accumulation despite current price fluctuations.

As always, staying informed about the latest cryptocurrency news is essential for making informed decisions. Keep a close eye on ADA as it navigates this crucial support zone.

Significant Sales by Large-Scale Cardano Investors Displease Traders; Inquiry about ADA Token Reaching Record Highs