π ADA's Bullish Momentum
ADA, Cardano's native token, is showing bullish momentum on the daily chart. Today, December 11, 2024, ADA has surged over 8%, recovering from yesterday's steep 23% decline.
π Whales Show Confidence
This price surge is likely fueled by growing interest from whales and long-term holders. On-chain analytics from Coinglass highlight their consistent investments, signaling strong confidence in ADA's potential upside.
πΈ $186 Million ADA Outflows
Since December began, exchanges have seen $185.89 million worth of ADA outflows. Such movements, where assets flow from exchanges to wallets, hint at accumulation and often signal potential price rallies, presenting an ideal buying opportunity.
π Technical Analysis and Key Levels
ADA has held firm above the critical $1.00 support level, thanks to strong whale activity. Analysts predict a potential 15% rally, aiming for $1.25 in the near term. The Relative Strength Index (RSI) sits at 58, suggesting ADA still has room to rise without hitting overbought levels.
π Current Market Stats
At the time of writing, ADA trades near $1.08, reflecting a 7.10% gain in the past 24 hours. However, trading volume has dropped 28%, indicating lower market activity compared to prior days.
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