💥Cardano (ADA) Sees Decline in Holders Despite Chang Hard Fork Optimism
🚀 Cardano's Major Upgrade
Cardano (ADA) is gearing up for a major upgrade. Some ADA holders are making moves that could impact the cryptocurrency’s price.
💼 Large Holders Exodus
Cardano has seen a 99.79% decrease in its Large Holders Inflow, indicating notable investors are selling off assets. This drop may be linked to portfolio rebalancing ahead of a potential altcoin season or the upcoming Chang hard fork, expected by the end of July.
🔄 Recent Upgrades and Market Sentiment
The last major upgrade was in 2021, where ADA's price jumped from $1.35 to $3.10 in 30 days. On-chain data shows a spike in Weighted Sentiment, suggesting rising optimism. If sentiment turns positive, it could prevent ADA from sliding below $0.40.
📈 ADA Price Prediction
ADA traded within a falling wedge between March and June, breaking out on July 6 to reach $0.45. The price is currently between $0.40 and $0.45. Indicators like the Chaikin Money Flow (CMF) and Moving Average Convergence Divergence (MACD) suggest buying pressure might push the price to $0.43 or even $0.47.
