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Cardano has shown early signs of stabilization after weeks of pressure. The $ADA price is attempting a bounce from recent lows. Market data suggests the recovery is being supported by two key investor groups.
Large holders and long-term investors appear to be stepping in. Their activity is shaping short-term sentiment around the altcoin. As volatility persists across the crypto market, these cohorts may play a decisive role in $ADA’s next move.
Cardano Holders Are Seemingly Bullish
On-chain data indicates that Cardano whales have been consistently supportive. Addresses holding between 10 million and 100 million $ADA have accumulated heavily in recent days. These wallets added more than 220 million $ADA, valued at over $61 million at the time of writing.
Such accumulation during price weakness often reflects strategic positioning. Whales likely took advantage of discounted prices. Their buying signals conviction in $ADA’s recovery potential.
Large-scale accumulation can also reduce circulating supply, which may support price stability in the near term.
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Beyond whale activity, long-term holders are reinforcing confidence. The Mean Coin Age metric, which tracks the average age of circulating coins, has been steadily increasing. This indicator reflects whether older coins are moving or remaining dormant.
During bear markets, a decline in Mean Coin Age often signals transactions and potential selling. However, the current rise places the metric at a three-month high.
This suggests long-term holders are opting to HODL rather than liquidate positions. Sustained dormancy typically indicates expectations of future $ADA price appreciation.
$ADA Price Breach On The Cards
Cardano price is trading at $0.278 at the time of writing. The altcoin is attempting to secure the $0.271 level, which aligns with the 23.6% Fibonacci Retracement. Holding this support would strengthen the bullish structure. A confirmed rebound could open the path toward $0.303.
Whale accumulation combined with long-term holder conviction may inject needed stability. If buying pressure continues, $ADA could extend gains beyond $0.303.
The next resistance stands near $0.354. A decisive move above that zone could push Cardano toward $0.391, reinforcing recovery momentum.
However, risks remain in volatile market conditions. If $ADA fails to breach $0.303, sellers may regain control. Renewed pressure could force the price below the $0.271 support again.
A breakdown would likely expose $0.245 as the next downside target, invalidating the current bullish outlook.
The post Cardano Whales are Trying to Rescue $ADA Price appeared first on BeInCrypto.
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