๐Ÿ‹ Cardano Whales Offload 170M $ADA โ€“ Whatโ€™s Next at $0.65? ๐Ÿ”ฅ

Josh Altons - Feb 27 - - Dev Community

๐Ÿ“‰ Whales Dump ADA, Price Drops
Cardano whales have sold 170M ADA, reducing holdings from 3.26B to 2.98B ADA. This sell-off coincided with ADAโ€™s price dropping from $0.83 to $0.65, signaling a bearish sentiment among major holders.

๐Ÿ”Ž Market Interest Surges
Despite the decline, Google searches for Cardano spiked by 90%, indicating growing curiosity among investors. Polkadot (DOT) and Luna Classic (LUNC) also saw 110% increases in search volume, highlighting renewed market attention.

๐Ÿ“Š Key Support at $0.65 โ€“ Breakout or Breakdown?
ADA is trading near crucial support at $0.65. If it holds, it could rally towards $1.00 and possibly $3.00. A more bullish scenario could even push ADA to $7.50. However, if ADA drops below $0.65, it could fall towards $0.30, confirming bearish momentum.

๐Ÿ“ˆ Recovery on the Horizon?
The Stochastic RSI suggests ADA is nearing oversold territory, hinting at a potential rebound. Holding above $0.65 could pave the way for bullish momentum, while losing this level may trigger further downside.

โš ๏ธ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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