Posted 12/22/2023, 9:35:26 AM
Cardano Holders Taking Profits as ADA Price Hits Resistance Levels
- ADA holders are taking profits as Cardano price climbs, according to on-chain data
- Large Cardano wallet addresses engaged in increased transactions and profit-taking from Dec 4-22
- Cardano price increased nearly 74% over the past month and recently hit resistance at $0.6874
- Support levels exist around $0.5063 and at the 10-day, 50-day, and 200-day moving averages
- On-chain signals point to potential for a price correction as holders realize gains