CandleFocus Cardano Price Faces $0.6 Breakdown Risk as Whales Dump 330M ADA
2025-02-04
Author: Content Editor
The Cardano price is at risk of potential breakdown due to the selling pressure from crypto whales, who have offloaded over 330 million Cardano ADA and have not re-entered the market. This suggests a shift in sentiment among institutional investors or major stakeholders. The Cardano price has experienced a major correction in the past two months, but it is currently seeking support at $0.76 and the 200-day EMA. A potential bullish reversal is indicated by the long-tail rejection candle on this support level. However, if the price breaks below $0.76, it could lead to an extended correction below $0.6.
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