Latest onchain data is flashing positive signals indicating that smart money is quietly returning to Cardano, despite the price still being in a deep drawdown from its previous highs.
🔸 According to data from Onchain Lens, a whale entity has just executed orders to accumulate 6.46 million ADA worth approximately $2.5 million via 10 consecutive orders on DEX. The average entry price recorded was $0.38.
🔸 This buying spree occurs while ADA Shortterm bubble risk indicator is at a low 0.659, a sign that the asset is Undervalued. Furthermore, with the price down 86% from its ATH, the current zone is considered an ideal Oversold point for longterm accumulation.
🔸 ADA price is retesting the critical support at $0.38 and aligning with the whale cost basis. If this level holds, ADA has the potential to target the nearest resistance at $0.43. Conversely, breaking this support would trigger a final Shake out.
With whales starting to deploy capital at key support levels, is this the beginning of a recovery or just a short-term technical bounce?
News is for reference, not investment advice. Please read carefully before making a decision.