The recent actions of large Cardano holders, known as whales, may indicate changes in market dynamics. Over the past 48 hours, they have purchased more than 120 million ADA.
Return of Cardano Whales
Analyst Ali reported that Cardano whales have returned to make substantial purchases of ADA. According to him, during 48 hours, they bought over 120 million tokens. This activity could suggest growing confidence in the price of Cardano, especially following several months of relatively quiet market.
Price Level Support
ADA is currently facing a critical resistance level at $0.77. Ali noted that a bullish trend could be confirmed only if the price manages to close above this level. As this level has proven difficult to break, the market continues to closely monitor developments.
Analysis of Expected Changes
Despite the recent increase in buying pressure, without breaking above the $0.77 mark, further price developments remain uncertain. If ADA is able to surpass this level and hold above it, it may indicate the start of a strong upward trend.
The activity of whales in Cardano may be a sign of upcoming market changes. The next crucial step will be breaking the $0.77 level, which could dictate the future price dynamics.
