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Cardano (ADA) Whales Buy 130M Tokens, Bull Run Incoming?
As the price of Cardano (ADA) continues to consolidate near a crucial support level of $0.65, it appears that whales and investors are seizing this opportunity. Recently, a prominent crypto expert posted on X that whales have purchased millions of dollars worth of ADA tokens in the past three days.
In a tweet, the expert highlighted that whales have bought nearly 130 million ADA tokens over the past 72 hours. This substantial ADA purchase by Whales signals a potential buying opportunity, as the price has dropped significantly in recent days.
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Whales bought around 130 million #Cardano $ADA in the last 72 hours! pic.twitter.com/PTNomFSUdc — Ali (@ali_charts) March 15, 2025
Impact on ADA Price
The impact of this substantial ADA purchase is already starting to reflect in the asset’s price. According to CoinMarketCap data, ADA is currently trading near $0.75, having surged over 4% in the past 24 hours. Additionally, during the same period, the asset’s trading volume jumped by 10%, indicating increased participation from traders and investors looking to capitalize on the current price.
Cardano (ADA) Technical Analysis and Upcoming Levels
Based on recent price action and historical momentum, if ADA closes a daily candle above the $0.75 level, it will confirm a successful breakout and could potentially soar by 13% to reach $0.85 in the coming days. Source: Trading View
Following the breakout, ADA has surged above the 200 Exponential Moving Average (EMA) on the daily timeframe, confirming its uptrend.
ADA Traders’ Over-Leveraged Positions
Aside from this bullish outlook, intraday traders appear to be strongly betting against the bull run, as reported by the on-chain analytics firm Coinglass. The data revealed that traders are currently over-leveraged at $0.724 on the lower side, with bulls holding $9 million worth of long positions. Meanwhile, $0.763 is another over-leveraged position where traders betting on the short side have held $13 million worth of positions.
Source: Coinglass
This data clearly reveals traders’ sentiment despite the breakout.
Tags Altcoins Price Analysis
Source: https://coinpedia.org/price-analysis/cardano-ada-whales-buy-130m-tokens-bull-run-incoming/
