Whales, ADA, and the Great Price Standoff: Who Will Blink First? 🐋💰

Whales have hoarded over 180 million ADA, which is like a toddler with a candy stash—potentially explosive!
Cardano’s price is playing hard to get around $0.75, with Open Interest and daily engagement acting like they just saw their ex.

So, over the past week, whales have been on a shopping spree, accumulating over 180 million ADA. It’s like they’re preparing for a big party, but the question is: will they be dancing on the ceiling or crying in the corner when the price action hits? 🎉😢

With these whales making their moves, we’re left wondering if this buying power will send ADA soaring or if it will just sit there, awkwardly, like a wallflower at a dance party.

ADA price action – is the support level strong enough?

Cardano recently bounced back from a key support zone at $0.65, which is like finding out your favorite show is getting a reboot—there’s hope! The price has since climbed toward the $0.72 region, hinting at a possible recovery.

As of now, ADA is trading at $0.7217, which is a 2.93% decline over the past 24 hours. The RSI is sitting at 47.34, which is basically the market saying, “I’m fine, everything’s fine,” while the house is on fire. 🔥

While the rebound from support is a good sign, Cardano is still stuck in a range. Without some serious buying pressure, it’s anyone’s guess whether the price will break through resistance or just faceplant again.

Liquidation heatmap – Where are the pressure points?

The ADA liquidation heatmap is like a treasure map, but instead of gold, it shows us where the price might go on a wild rollercoaster ride. The $0.72 to $0.75 range has seen a lot of liquidation activity, which means ADA’s price is still prone to some dramatic swings. 🎢

While whales are steadily accumulating ADA, this resistance zone might either put the brakes on upward momentum or unleash a tidal wave of liquidations, sending prices crashing down like a bad reality show finale.

But hey, if ADA can break above this range, we might just see a rally that would make even the most seasoned traders do a happy dance!

Daily active addresses – Moderate engagement or hidden strength?

Cardano’s daily active addresses are showing a steady but moderate level of user engagement, with 31,005 active addresses recorded. It’s like a party where everyone’s invited, but only a few actually show up. 🎉

While this reflects consistent participation, it doesn’t scream “bullish trend!” Instead, it suggests cautious optimism, like when you’re not sure if you should order dessert or just stick to the salad. 🥗

If engagement stays stable and whales keep accumulating, ADA could see a slow and steady rise, like a tortoise in a race against a hare that’s too busy scrolling through social media.

Additionally, Cardano’s Open Interest (OI) has dropped by 11.52% to $738.11 million, which is like traders saying, “I’m out!” due to the uncertainty surrounding ADA’s price action.

With fewer traders taking leveraged positions, this caution might keep ADA from making any bold moves. Until confidence returns, we might just see more of this consolidation instead of any wild price swings.

What next for ADA

While whale activity has certainly cranked up the buying pressure, ADA’s short-term outlook is still a bit murky. The bounce from support is nice,

2025-03-12 11:09

ADA price action – is the support level strong enough?

Liquidation heatmap – Where are the pressure points?

Daily active addresses – Moderate engagement or hidden strength?

What next for ADA

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