Summary
TLDR: The Cardano (ADA) market is experiencing a tug-of-war between holders in profit and those in losses, leading to potential price stagnation. The number of transactions over $100,000 has decreased, indicating a slowdown in high-value activity. Strong support levels may prevent a significant drop in ADA prices, setting the stage for a potential upward momentum. Whale transactions have detached from ADA price, with a recent decrease in high-value transactions. The majority of ADA holders are currently profitable, creating a dynamic environment where both winners and losers may influence the price. Analysis suggests potential support levels at $0.72 and $0.70, with resistance at $0.75 and a target of $0.84 for ADA price growth.
Key Points
1. The Cardano (ADA) market is experiencing a tug-of-war between holders in profit and those experiencing losses, potentially leading to a period of stagnation for ADA prices.
2. The number of transactions exceeding $100,000 has decreased since the onset of March, indicating a slowdown in high-value activity within the ADA ecosystem.
3. Strong support levels could provide a safety net for ADA valuation, setting the stage for the cryptocurrency to enter a new phase of upward momentum.