ADA Whales Accumulate $140M Coins – Is a Breakout Imminent?
Cardano’s price is traded this week: it still exists, the resistance is 1.02 US dollars, and at the same time look for support at a price of $ 0.96.
Although the market changes are soft, the data on the chain shows that the purchase signal has appeared, which has aroused the interest of large investors.
Kadano whale ape As a coin flash purchase signal
Cardano has a market value that has achieved a realized value (MVRV) ratio (this is a key indicator of whether assets are overvalued or underestimated), indicating that coins may be underestimated at the current market price. When writing this article, the 7-day and 30-day MVRV ratio of coins was -2.88 % and -0.98 %, respectively.
When the asset’s MVRV ratio is positive, its market value is higher than the realized value, which indicates that it is overestimated.
On the other hand, just like ADA, when it is negative, the market value of assets is lower than the realization value, indicating that it is underestimated. This means that the transaction volume of coins is lower than its historical acquisition cost and may be rebounded. Therefore, the market participants who want to “buy high prices at a low price” may start to accumulate cottage.
This is caught Ada whale’s attentionRecently, a lot of coins have been accumulated. According to Santiment, in the past seven days, the whale address holding 10 million to 100 million ADA addresses have purchased amazing $ 140 million coins.
Generally, this move from the whale shows that the confidence in assets has increased its short -term prospects. If retail traders follow this trend, Cardano’s price may have a significant upward momentum in the next few weeks.
Ada price prediction: Will the accumulation of whales maintain momentum?
When writing this article, ADA’s transaction price is $ 0.99Essence If this cumulative trend is maintained, it may promote the price of ADA higher than $ 1.02. The success of this level violates this level and can rise to $ 1.08 for Altcoin.
On the other hand, if the whale reduces its accumulation and increase in selling, then Aida may break The support amount of a bracket below $ 0.94 is $ 0.94.
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