The price of Cardano (ADA) has dropped by 20% in recent weeks, but whale addresses have accumulated over 300 million ADA, worth nearly $200 million. This suggests that large investors have confidence in a potential recovery as market cues shift. The increased accumulation by whales coincides with a 20% price drop, indicating they see the current price as an opportunity. This accumulation of ADA by whales reflects strong conviction in Cardano's future recovery and may bolster its price if the broader market sentiment turns positive. Cardano's correlation with Bitcoin has been increasing, and if Bitcoin rebounds, Cardano could follow suit. Currently trading at $0.66, Cardano is in a downtrend, but if whales continue to accumulate and the market favors ADA, it could break through resistance levels and reverse the pattern. However, failing to breach resistance levels could lead to further price drops for ADA.



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