Posted 4/15/2024, 10:00:00 PM
Cardano Whales Bet on Rebound After 25% Drop, Accumulating in Price Dip
- Cardano's (ADA) price has fallen over 25% recently but whales are accumulating, betting on a rebound
- ADA is currently in an opportune "accumulation zone" based on its MVRV ratio
- ADA price could continue its recovery back to the $0.56 support level - a 16% increase
- Failing to breach the $0.50 resistance could invalidate the bullish view and cause a further drop
- Investor activity has often dictated ADA's price moves, so increased whale purchases could fuel a rally
