Cardano (ADA) price has surged an impressive 265% over the last 30 days, becoming one of the biggest gainers among the top 10 biggest coins, only behind Ripple (XRP).

Whale accumulation, which drove confidence in November, has now stabilized, suggesting a cautious approach by major holders.

ADA Current Uptrend Appears To Be Fading Away

Cardano ADX has dropped to 19.4 from 33 on December 3, signaling a weakening trend. This decline indicates that the strength of ADA’s recent uptrend is fading, though the price remains in an upward trajectory. Between December 1 and December 3, ADA price surged almost 27%, which aligns with its ADX reaching 33.

A lower ADX suggests that while the trend continues, it lacks the momentum seen earlier, possibly pointing to consolidation or a slower pace of growth.

The ADX (Average Directional Index) measures the strength of a trend, with values above 25 indicating a strong trend and below 25 suggesting a weak or consolidating market. ADA ADX at 19.4 reflects a weakening trend despite the ongoing uptrend, hinting that further upward movement may be more gradual.

However, if buyers regain momentum, the ADX could rise again, supporting a stronger continuation of the current uptrend.

Cardano Whales Are Now Stable After Accumulating In November

The number of addresses holding between 10 million and 100 million ADA saw significant growth early in November, increasing from 393 on November 4 to 409 by November 20.

This rise indicates a strong accumulation of whales during this period, suggesting heightened confidence in Cardano potential. Such

Go to Source to See Full Article
Author: Tiago Amaral