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So, picture this: Cardano whales, those big fish in the crypto sea, decided to sell their ADA tokens faster than you can say “crypto reserve” after President Trump’s announcement sent prices soaring past $1. Classic move, right? Buy low, sell high, and then… crickets. 🦗 But wait, should the little fish (a.k.a. retail traders) be scooping up the leftovers? Let’s dive in! 🏊♀️
Whales Are Not Buying ADA After March 2 Selloff
According to the ever-so-reliable Santiment, on March 2, ADA whale activity skyrocketed by a whopping 480% in just one day! That’s like a party where everyone shows up, eats all the snacks, and then leaves without saying goodbye. 😱 After a 72% price surge, these whales have gone radio silent for over two weeks. Now, we’re down to a mere 289 transactions. Talk about a ghost town! 👻
It seems these big players think the Cardano price might still be on a downward spiral, having dropped 36% from its March peak. So, what’s the verdict? Are we stuck in a crypto limbo until something exciting happens? 🤔
But hey, while the whales are swimming away from Cardano at $0.71, maybe it’s time for retail traders to consider a little dip buying. After all, who doesn’t love a bargain? 🛍️
Reasons Why You Should Buy Cardano Now After Price Dip
On the bright side, Cardano is getting some serious love on social media after the SEC gave it a thumbs up for smart contracts in government services. Santiment reports that ADA bullish activity is at a four-month high! Over 3,500 positive comments? That’s more than my last birthday party! 🎉 If this trend continues, we might just see Cardano back above $1.
Plus, there are some exciting catalysts on the horizon! Traders are buzzing about a potential ADA ETF launch, and Coinbase is set to roll out ADA futures on March 31. Institutional interest? Yes, please! 📈
And let’s not forget, April has historically been a good month for crypto. Bitcoin and Ethereum have seen returns of 12% and 22%, respectively. If history repeats itself, ADA could be in for a nice little boost! 🌼
With all these reasons, it seems Cardano bulls might just be eyeing that $1 target, making now a fab time to buy! 💪
Cardano Technical Analysis
The Awesome Oscillator on the Cardano weekly price chart is giving us some bullish vibes. It’s dropping, which means the bearish momentum is losing steam. Can I get a hallelujah? 🙌
If the bears take a backseat and buyers jump in to push ADA to the 50% Fibonacci level of $0.80, we could be looking at an uptrend. With the upcoming ADA futures on Coinbase and a resurgence of bullish sentiment, we might just see ADA soaring to the 261.8% Fib level of $3.01. 🚀
But hold your horses! For a real recovery, the RSI needs to get back above $50. Right now, it’s sitting at 48, which is like being stuck in traffic on a Monday morning. 🚦
With bullish sentiment hitting a four-month high, upcoming ADA futures, and a solid technical outlook, it might just be time for traders to consider buying ADA, even if the whales are playing hard to get. 🐳💔
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2025-03-19 15:01