Whale wallets experience remarkable demand for purchasing Cardano when prices decline, while large withdrawals from trading platforms reflect a state of accumulation, which is a trend. Supports Bullish Price Expectations. Although the price is down 37% over the past 30 days, the jump in daily trading volume to $1.6 billion shows that buying forces are quickly returning to the market.
Blockchain data from CoinGlass also shows that the net number of Cardano coins entering exchanges has remained mostly negative since October, indicating that large investors are withdrawing their coins from exchanges and into cold wallets rather than selling them. This trend is usually a sign of long-term confidence in the asset, as whales tend to quietly accumulate coins ahead of big market moves.
With Cardano price stabilizing near a major support level, it could enter a temporary period of relative stability before a new rally begins, especially if institutional interest continues to grow.
Cardano Price Forecast: Testing Previous Trendline Resistance From Above
Cardano price tested a significant resistance zone of the previous trendline, and analysts are currently focused on whether buying demand can turn this zone into a support level.
A strong rebound from this level could represent the start of the next bullish phase of Cardano price.
On the other hand, Cardano price is still below the 200-day EMA, which is a level the price must cross to confirm a change in momentum to the upside. The $0.53 area represents a key support level to watch; Maintaining trading above this level could lead to a near-term rally, especially as traders return to the market after last week’s heavy selling wave.
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