Time to Buy Cardano (ADA), Says Expert
Recently, the price drop in the cryptocurrency landscape seems to attract investors and businessmen who think it is an ideal buying opportunity. Amid this price and market uncertainty, the whale appears to be betting on the Aboriginal ADA of the Cardano blockchain Small shop.
ADA worth $10 million outflow
Data from spot inflows/outflows suggest that the exchange has witnessed a substantial $10 million in ADA over the past 48 hours, indicating a perfect example of potential accumulation and “buy immersion” opportunities.
In the current market situation, the massive outflow of exchanges may create buying pressure and drive further upward momentum.
On the other hand, traders in longer positions seem to dominate the current market sentiment of ADA. According to the data, despite a bearish pattern today, day traders with long positions are still in control and hold a long position worth $2.05 million at a price of $0.76.
Instead, at the price of $0.779, traders in short-term positions are placed on excessive leverage, with a short-term position worth $1.13 million.
When combining these chain boundary indicators, it seems that the Bulls seem to be supporting the ADA in their next move.
Experts say buying signals for ADA
This bullish sentiment among investors is consistent with that of well-known crypto experts who recently made bold predictions about X (formerly Twitter). In an article on X, experts pointed out that ADA appears to be ready to rebound because the key technical indicators TD sequence flashes the token purchase signal.
Despite these bullish chain indicators, ADA is currently trading near $0.77, down more than 2.35% over the past 24 hours. However, during the same period, its trading volume fell by 15.5%, with traders and investors participating lower than the previous day.
