Cardano Holds Steady as Whales Accumulate Quietly
Key Takeaways
- Cardano (ADA) is currently trading within a narrow price range around $0.78 USD.
- Large investors (so-called “whales”) are quietly accumulating ADA in the background.
- On-chain data suggests a possible setup for a price breakout.
- At the same time, trading volume remains subdued – a sign of potential false breakouts.
- Traders should closely monitor the Spot Taker CVD (Cumulative Volume Delta).
ADA in Focus: Accumulation Despite Sideways Movement
Cardano (ADA) is not showing any spectacular price movements at the moment, but there is a lot happening beneath the surface. On-chain data indicates that larger market participants – known as whales – are strategically buying ADA. Over the past 48 hours, more than 80 million ADA have been accumulated, specifically near the support zone around $0.78 USD.
These purchases are taking place during a period of low volatility. This suggests what is known as “silent accumulation” – a behaviour often observed before major price movements. At the same time, ADA outflows from centralized exchanges are increasing, indicating that investors are moving their coins to private wallets. This is often a sign of long-term holding intentions.
Volatility Squeeze: Preparing for a Move?
ADA’s current price action is confined to a narrow range. Technically, this is referred to as a volatility squeeze. This means price fluctuations are decreasing while the market prepares for a stronger move. Whether that move will be upward or downward remains unclear.
Traders should proceed with caution. Cardano is known for showing apparent breakouts that later turn out to be false. These so-called “bull traps” lure in buyers, only to push them out of the market shortly after through price pullbacks.
Liquidations Highlight Risk for Long Positions
A look at the liquidation data over the past 24 hours shows that more than $2.37 million USD in long positions have been liquidated. This represents about 82% of all liquidations during that period. These figures suggest that many traders were speculating on a breakout that ultimately did not materialize.
Such liquidations occur when traders use leverage to bet on rising prices, but the market fails to follow through. The result: their positions are automatically closed – often at a loss.
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Spot Taker CVD as a Key Indicator
A key indicator in this scenario is the Spot Taker CVD (Cumulative Volume Delta). It measures the difference between aggressive buys (market buys) and sells (market sells). Currently, this value shows a neutral reading: neither buyers nor sellers are dominating the market.
An increase in the CVD into positive territory would indicate genuine demand – a potential signal for a sustainable price increase. However, as long as this shift does not occur, the risk of another false breakout remains.
Our Assessment
The ADA price is currently in a critical phase. The accumulation by whales and the low volatility suggest an upcoming move. However, without clear signals from the volume profile and the Spot Taker CVD, caution is warranted.
If you’re considering investing in ADA, you should look for confirmation through rising volume and positive CVD values. Until then, there is a risk of getting caught in a short-term fake rally. Patience and a close eye on on-chain data are now essential.
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