In recent days, Cardano's price has shown positive changes, recovering after a recent dip, influenced by both whale activity and overall market optimism.
Current Cardano Price and Signs of Growth
Cardano's price has completed its pullback from a recent high of $1, rebounding sharply from $0.84. This marks the third consecutive higher low, reinforcing the ongoing uptrend structure. The most recent low aligns with the prior breakout zone, adding strength to this support level and increasing the probability of continuation toward higher levels.
Whale Activity
One of the main drivers behind Cardano’s recent price action is significant accumulation by large investors. Recent reports indicate that whales have recently acquired roughly 100 million ADA during the pullback, suggesting confidence in the continuation of the uptrend.
Retail Traders' Optimism
Retail sentiment also appears strongly bullish. Data shows that long positions on ADA exceed 79%, while short positions account for only about 20%. This indicates a positive sentiment among usual investors.
Thus, the recovery in Cardano's price, supported by whale activity and retail traders' optimism, indicates potential for further upward movement in the coming days.
