- ADA’s consolidation was keeping greedy investors on edge: HODL for more gains or exit to break even?
- With a proven track record of resilience, can ADA defy the odds in its long-term outlook?
In just a few days, it will be two months since Cardano[ADA] reached its post-election peak of $1.24. Despite pulling back 23% from that high, it’s still holding strong, up 180% from its pre-election low.
This consolidation could be a bullish signal, keeping weak hands hungry for a ‘potential’ rebound.
Decoding the current ADA mood
A quick look at Cardano’s daily price chart reveals a clear trend: Consistency. Each dip to the $0.60 support is met with a solid rebound, suggesting steady accumulation.
Even more telling, the top two whale wallets have been loading up on ADA since its last peak, adding billions to their holdings.
But the trading volume has slowed. The post-election pump saw a surge of over a billion in volume, but now, it’s struggling to hit 300 million. On top of that, daily active addresses on the network have dropped by a staggering 65%, now sitting at just 38.7K.
This explains why ADA struggles to stay above $1. While whales continue loading up, providing brief relief, the lack of fresh retail capital is keeping the rally shaky. Profit-taking soon drags the price back to its support level, leaving the market in a tug-of-war.
Yet, there’s a silver lining: The number of ADA holders has increased by 1 million in the past two months, reaching 4.41 million. While buying interest may have cooled, the fact that these holders are sticki
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Author: Ripley G
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