CandleFocus 4.3 Billion ADA Sell Wall on Cardano's Path to $1: Details
2024-12-23
Author: Content Editor
The cryptocurrency Cardano (ADA) is facing a significant challenge in reaching the $1 mark due to a sell wall, which represents a substantial cluster of 4.3 billion ADA. This sell wall could act as a key barrier for ADA's price recovery. The presence of a large cluster of addresses currently losing money within this price range could provide resistance to ADA's price increase. ADA is currently trading at $0.87, with a weekly decline of 18.16%. If ADA's price continues to decrease, there is a cluster of addresses between $0.659 and $0.834 that could provide support. Analysts remain optimistic about ADA's price, with one predicting a potential target of $6 based on historical patterns.
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