Whales are Back! Did They Just Bet $630 Million on Cardano’s Comeback? 🐋💸

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In the grand theater of the cryptocurrency market, where fortunes rise and fall like the tides, we find ourselves gazing upon the weary figure of Cardano, whose price has succumbed to a 23% decline over the past month. Yet, lo and behold, beneath this cloak of weakness, the whispers of buying pressure begin to stir.

Selling momentum, once a fierce tempest, now eases, technical strains dissipate like morning fog, and therein lies a curious spectacle: our esteemed whales, those great lords of the deep, have begun to accumulate near the hallowed grounds of support. Their intentions, however, leave us pondering: Are they the wise sages preparing for a resurgence, or mere fools dancing too soon in the shadows of the abyss?

Whale Accumulation: The Dance of Bullish Divergence Near Support

As we gaze upon the daily chart, we observe Cardano ensnared within the confines of a falling wedge-a pattern that resembles a tightly drawn bowstring, ready to unleash its arrow at any moment. Such formations often herald sharp movements as pressure builds and space narrows.

From the twenty-first of November to the eighteenth of December, Cardano’s price forged a lower low, while the RSI, that trusted measure of momentum, ascended with grace to form a higher low. The juxtaposition of weakening prices against an improving RSI reveals a tale of waning seller strength. This bullish divergence takes on profound significance when it unfurls near the lower edge of our falling wedge, suggesting that support is indeed robust.

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The evidence, dear reader, is not merely anecdotal; on-chain data confirms this shift in market pressure.

Wallets harboring between 100 million to 1 billion ADA have swelled their coffers from 3.74 billion to 3.75 billion ADA in just 48 hours. A modest yet notable addition of approximately 10 million ADA, valued at around $3.6 million.

More significantly, our smaller whale brethren in the 1 million to 10 million ADA range have engaged in a feeding frenzy, boosting their holdings from 3.84 billion to a staggering 5.60 billion ADA-an increase of roughly 1.76 billion ADA, translating to about $634 million. One can almost hear the jubilant splashes of their aquatic revelry!

This sequence of events bears witness to a hierarchy of accumulation. First, our larger whales took the plunge, followed by a veritable tidal wave of smaller ones. Coupled with the RSI divergence, we see a picture emerging: selling pressure ebbs away while buyers stealthily absorb the available supply near structural support.

Yet, let us not be so easily swayed into jubilation; we do not yet possess the sacred confirmation of an ADA price reversal. However, the signs are clear that the downward momentum is beginning to wane as the tide of accumulation rises.

The Crucial Price Levels: Will the Whales Prove Their Worth? 🐋⚖️

Despite the flickering flames of improved momentum and whale buying, Cardano remains ensconced in a broader downtrend, making price confirmation not just important-it is critical.

For our hopes of a rebound to gain solidity, ADA must reclaim the $0.48 mark with a clean daily close-an arduous task at best. Before reaching that lofty summit, resistance lurks between $0.39 and $0.42. Failure to breach this zone would confine the price within the wedge, reinforcing consolidation rather than heralding recovery.

Yet, we must remain vigilant, for the specter of downside risk still looms large amidst the broader downtrend.

The lower trendline of the wedge rests precariously just above $0.33. A decisive break below this threshold would invalidate our dreams of a rebound, exposing $0.29 as the next significant bastion of support. Should we falter here, it would signal the reassertion of the broader bearish trend upon the weary price of Cardano.

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2025-12-19 13:27