In the recovery of the Cryptocurrency market, ADA, the default token of the Cardano blockchain, has rebounded and is preparing for a significant rising exercise. Potential reasoning of this strong prospect includes an increase in interest among 58%prices and whales, long -term holders and investors.
ADA technology analysis and coming level
According to expert technical analysis, ADA is a transaction that has returned to an optimistic range by experiencing a significant price reversal and exceeding the important support level of $ 0.71. In addition, over the daily period of 200 index movement average (EMA), Altcoin makes ALTCOIN more advantageous for potential bull runs.
Based on recent price behavior and historical momentum, the ADA can face light resistance near $ 0.85. If you successfully violate this level and close the candle of $ 0.86 or more daily, you will likely increase 45% and recover the highest of $ 1.25.
The ADA also formed a strong hammer candlestick pattern that supports this positive prospect and signals the upcoming rally.
The value of the ADA leak is $ 8.2 million
In this strong prospect, whales and long -term holders continued to accumulate over the last 24 hours when the ADA experienced a sharp decline.
COINGLASS, a major onchain analysis company, said in the last 48 hours that the exchange has leaked the $ 88 million XRP tokens. In the midst of the ongoing price recovery, these significant outflows can suggest potential accumulation, which can no longer induce purchase pressure and rising exercise.
Strong bet on the long position of the trader
In addition to the long -term holders, the trader has been found to have excessive lever on the long term, as revealed by the CoingLass data.
The $ 0.73 level for the press time is an excessive area, and traders have a long position worth $ 35 million and play a strong support for ADA. On the contrary, $ 0.83 is another level to another level, and the short seller only has a short position of $ 33.2 million, 10 times lower than Bulls’s long stake.
When all these warm -chain metrics are combined with technical analysis, the bull returns to the market and seems to support Altcoin for significantly upward exercise.