The post Cardano’s Weekly Large Transactions Decline ! What’s Next For ADA Price? appeared first on Coinpedia Fintech News
The price of Cardano has remained in a bearish zone, struggling to attract buying interest despite a generally bullish trend in the overall market. This lack of buying demand has triggered large investors, commonly referred to as ‘whales,’ to exit, a trend highlighted by recent on-chain data. This could lead to reduced volatility in ADA’s price and might even invite increased selling pressure, particularly near its resistance levels.
Whales Lose Interest In ADA Price
Unexpectedly, bulls found themselves in a challenging position with Cardano (ADA). Data from Coinglass revealed that the ADA price initiated a substantial amount of liquidation, totaling over $1.2 million. Notably, bullish traders faced a significant impact, with nearly $930K worth of their long positions being liquidated, strengthening the resistance level at $0.55.
Cardano’s inabi
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