Whales That Sold ADA For Huge Profits on March 2 Are Not Buying Cardano Price Here, Should You?

Whales That Sold ADA For Huge Profits on March 2 Are Not Buying Cardano Price Here, Should You?

  • 18.03.2025 16:00
  • coingape.com
  • Keywords: whale activity

Whales sold ADA heavily on March 2 but haven't bought since. Despite their inactivity, bullish sentiment and upcoming catalysts like Coinbase futures suggest it's a good time to consider buying.

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Context

Analysis of Cardano (ADA) Market Dynamics

Overview

  • Key Focus: Whale activity, market sentiment, technical indicators, and upcoming catalysts impacting ADA's price trajectory.

Whale Activity Insights

  • March 2 Selloff:
    • Whale transaction count surged by 480% to a multi-week high of 2672 transactions, coinciding with a 72% price surge.
    • Post-selloff, whale activity dropped significantly to 289 transactions, indicating hesitation.

Market Sentiment and Social Media

  • Positive Sentiment:
    • Surge in bullish activity to the highest level in over four months.
    • Favorable SEC classification for smart contracts usage has boosted social media sentiment.

Catalysts for Price Recovery

  • Upcoming Launches:

    • Spot ADA ETF expected to boost institutional interest.
    • Coinbase plans to list ADA futures on March 31, potentially driving significant price gains.

  • Historical Performance:

    • April has historically been bullish for cryptocurrencies, with Bitcoin and Ethereum seeing 12% and 22% returns respectively.

Technical Analysis

  • Awesome Oscillator: Shows weakening bearish momentum.
  • Price Targets:
    • Potential rebound to $0.80 (50% Fibonacci level).
    • Further upswing possible to $3.01 (261.8% Fibonacci level) if bullish sentiment resumes.
  • RSI Indicator: Currently at 48, suggesting weak buying activity but indicating a potential turning point.

Strategic Considerations

  • Retail vs Whale Behavior: While whales are hesitant, retail traders may find the current dip an opportune time to buy due to positive sentiment and catalysts.
  • Institutional Interest: Coinbase's futures listing is expected to attract significant institutional investment.

Conclusion

  • Opportunities Ahead: Despite whale inactivity, bullish sentiment, technical indicators, and upcoming catalysts suggest a potential recovery for ADA. Retail traders may consider the current price dip as a buying opportunity.
  • Risk Considerations: The market remains volatile, with reliance on catalysts for sustained growth.

Key Metrics

  • Current Price: $0.72215286 (24h)
  • Market Cap: $27.2B
  • 24 Hours Volume: $773.06M
  • Max Supply: 45B

This analysis highlights the critical factors influencing Cardano's market dynamics, offering insights into potential price movements and strategic investment considerations.