🐳 Cardano Whales Accumulate 310 Million ADA 💵💰💰
Two of the largest whale groups on the Cardano (ADA) network are strengthening their positions, which could be a signal of strategic accumulation ahead of a potential bullish move.
🔹 Since June 1, whales holding between 100 million and 1 billion ADA have increased their holdings to 3.15 billion tokens
🔹 Meanwhile, whales with over 1 billion ADA now hold 1.97 billion tokens.
📊 This increase reflects possible institutional interest, which could anticipate a future recovery in the price of ADA if sentiment remains positive.
📉 However, not everything is optimism in the short term:
Cardano still faces significant technical resistance. The price fell by 2.63% to a price of $0.68 on Thursday and has not managed to break a downward trend line that has formed.
🧭 Currently, ADA is in a triangle pattern on its daily chart, delineated by:
🔻 A downward resistance line
🟢 A key support at $0.60, aligned with previous lows.
This pattern suggests that the price is in a consolidation zone. A breakout of this triangle, either upwards or downwards, could define the next big move for ADA.
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