A crypto analyst is predicting big things for Cardano (ADA). They say that recent activity suggests a continued price surge is likely.
Whale Activity Drives ADA Up
According to analyst Ali Martinez, large investors (whales) and institutional players are snapping up ADA, betting on further price increases. He points to over $22 billion in large ADA transactions daily, indicating significant accumulation. Whales holding between $1 million and $10 million in ADA have boosted their holdings by over 100% in just the last month. This strong buying pressure is already pushing the price up, and the price action looks similar to previous bull runs. Martinez even suggests ADA could hit $6!
Key Support Level for ADA
Martinez highlights $0.80 as a crucial support level. If ADA stays above this price, the bullish prediction remains valid, as a huge number of addresses bought ADA around that price point previously.
ADA’s Recent Performance
Currently trading at $1.06, ADA is up over 24% in the last 24 hours, more than 48% in the past week, and a whopping 200% in the last month.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies. Investing in crypto is risky, and you could lose money.
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