Cardano Price continued to consolidate this week, but the accumulation of ongoing whales and its technical model indicate a rebound.
Cardano (ADA), the popular layer of layer 1, was negotiated at $ 0.70 on Saturday, a level in which he remained in the past few days.
There are signs that whales are starting to accumulate because they expect the price to bounce in the coming weeks. Santiment data show that the amount of ADA parts held by whales with between 10 million and 100 million parts increased to 12.8 billion, against 12 billion in January.
Likewise, whales hold between 100 million and 1 billion parts of parts brought their assets to 3.14 billion of 2.6 billion in March. This accumulation tendency can continue as feeling in the cryptographic industry improves.
The request for retail and whales is also visible in the implementation of data. According to Stakrewards,, Investors have added 307 million ADA tokens worth $ 215 million in the last 30 days.
There are three main potential reasons for this accumulation. First, market players expect the price of Bitcoin (BTC) to continue to increase, Standard Charterd, reaching $ 200,000 in the fourth quarter. A strong increase in bitcoin often leads to more altcoin gains.
Second, there are signs that the SEC, under Paul Atkins, will approve Spot Cardano ETF, a decision that could lead to a more institutional request. This request will be much higher if the dry allows these ETFs to offer implementation characteristics.
Third, there is hope that the integration of Cardano with Bitcoin will help to overeat its assets in the decentralized finance industry. This integration will help Bitcoin holders generate a monthly return.
Technical analysis of the Cardano Prize
The daily graph shows that Ad Price was held stable at a crucial level of resistance in the past few days. It is consolidated at the exponential mobile averages of 50 days and 100 days (EMA).
The medal also oscillates slightly under the upper side of the motif of the graphic in the downhill corner. A corner occurs when there are two descending and convergent trend lines. This often leads to a strong bullish escape over time.
Such a movement would bring the price of Cardano to $ 1,176, the décuture of the double -bottomed pattern at $ 0.513. A double background is also one of the best upper signs on the market.
