Cardano (ADA) has seen an 8% increase in price after a significant decline of 23%. The cryptocurrency has experienced a substantial outflow of $185.89 million worth of ADA from exchanges to wallet addresses since the beginning of December 2024. This outflow suggests potential acquisitions and indicates an ideal buying opportunity. Whales and long-term holders are showing support for ADA, preventing it from breaking its crucial support level of $1.00. Technical analysis suggests that ADA could rise by 15% to reach $1.25 in the coming days. The current Relative Strength Index (RSI) for ADA indicates room for further rally. As of now, ADA is trading near $1.08 with a price gain of 7.10% in the past 24 hours.
- Content Editor ( coinpedia.org )
- 2024-12-11
Time to Buy Cardano? $186 Million ADA Flows Out of Exchanges