A rolled spring? Whales are accumulated, jump jumps

Cardano The price continued to be in consolidation this week, but the liquid citation accumulation and its technical form indicates a jump.

Cardano (Ada) The popular layer network-1 was traded on Saturday from $ 0.70, and the level has remained in the last few days.

There are signs that whales begin to accumulate because they expect the price to refute in the coming weeks. Chamana data show that the amount of coins of ADA that was held with whales with between 10 million and 100 million coins jumped to 12.8 billion, more than 12 billion in January.

Similarly, whales that murish between 100 million and billion coins have stepped up their farm to 3.14 billion in the amount of 2.6 billion in March. This accumulation trend can continue as a feeling in the crypt industry is improved.

Demand for retail and whale is also visible in data items. Toward Stations, Investors added 307 million ADA tokens worth $ 215 million in the last 30 days.

There are three main potential reasons for this accumulation. First, market participants are expecting that bitcoin (Btc) The price will continue to increase, with the standard to see that K4 is loaded at $ 200,000. Powerful bitcoin crossing often leads to more Altcoin gains.

Second, there are signs that sec, under Paul Atkins approve the Cardano ETF site, a move that can lead to more institutional demand. This demand will be much higher if the SEC allows these ETFS to offer functions to put.

Third, it hopes that Cardano’s integration with Bitcoin will help compensate their property in the decentralized finance industry. This integration will help the Bitcoin owners generate monthly return.

Cardano price Technical analysis

The daily shows that the ADA price existed at the level of crucial resistance in the last few days. It is consolidated at the 50-day and 100-day exponential movable average (EMA).

The money also floats slightly below the upper side of the drop-down pattern of wedge. The wedge happens when there are two descending and converging trendline. Often leads to a strong beech burglary over time.

Such a move would push the Cardano price to $ 1,176, a double-bottomed decollete pattern to $ 0.513. Double bottom is also one of the best characters in the market.