CandleFocus Cardano Bulls Bought $6B Worth of ADA on Christmas Day as Price Eyes $1
2024-12-26
Author: Content Editor
Cardano bulls accumulated a significant amount of ADA tokens on Christmas Day as the broader crypto market saw a recovery push. The price of Cardano dropped during the day but rebounded, and despite a mild pullback and consolidation, the bulls showed increased appetite for the cryptocurrency. On Christmas Day, Cardano bulls procured about 6.83 billion ADA tokens, while Cardano bears saw a more substantial drop in their sales volume. This excess demand could potentially grant the bulls enough strength to push Cardano prices above the current range-bound phase. Analysts expect the recovery to trigger Cardano's next leg up, and the technical indicators suggest that a recovery is imminent.
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