- So, Cardano’s MVRV ratio flipped negative. Great! Just what we needed, right? Average buyer is now at a loss. Fantastic!
- Will HODLers stick to their guns, or will market FUD make them rethink their life choices? 🤔
Look, despite a sharp 12.60% monthly decline, Cardano [ADA] is still 87% above its election-day opening price. I mean, who knew? It’s outperforming many high-cap assets. This is a sign of strong holder conviction, or maybe just stubbornness. Who knows? 🤷♂️
But wait! On-chain fundamentals are throwing a wrench in the works. Cardano’s Total Value Locked (TVL) dropped below pre-election levels. Liquidity outflows? Check! Whale Transaction Count (over $100K) hit a cycle low. Institutional activity? More like institutional nap time! 💤
To get the FOMO back in the market, ADA better confirm its support on the charts. Otherwise, even the HODLers might start thinking, “Maybe I should just cash out and buy a yacht instead.” 🛥️
Which side will prevail?
As I write this, the altcoin’s price chart is like a test of patience. Since February, it’s posted three consecutive lower lows. Breaking key support levels? Check! Structural weakness? Double check! 🙄
The latest breakdown on April 6 saw ADA lose the $0.58-support. A level it had held post-election. Now, everyone’s worried about a deeper correction. Profit margins? Compressed like a bad pair of jeans! 👖
The MVRV ratio flipped negative. So, on average, recent ADA buyers are now underwater. Great! Just what we needed, right? 😒
But hey, ADA’s swift recovery flipped market sentiment. Trading at $0.6283 at press time, a 7% rebound might have restored some confidence. Or is it just a mirage? 🏜️
Is this rebound a result of a “market-wide” supply squeeze? A relief rally? Or are HODLers just too stubborn to let go? 🤷♂️
Structural weakness threatens HODLers’ conviction
With every failed support, ADA holders face a critical decision – Hold strong or exit before deeper losses unfold. If MVRV stays negative and buying pressure weakens, capitulation could be next. Sounds fun, right? 😬
Simply put, the closer Cardano drifts to its election-day price, the more fragile investor confidence becomes. Without strong fundamentals, a sell-off to breakeven levels could accelerate. Yikes! 😱
On a brighter note, trading volume on April 7 surged to $1.98 billion – up from $941 million the previous day. And the whale cohort holding 100 million to 1 billion ADA accumulated 250 million ADA on April 10 alone. Talk about a shopping spree! 🛒
This whale-driven demand blindsided short-sellers, forcing $901k in liquidations. As shorts unwound, a 7% rebound followed. Bullish reversal, right? Not so fast! 🐢
The largest whale cohort (12.6B ADA) has been sidelined. Caution, folks! Plus, dormant whale circulation spiked – a historical warning sign of market tops. Just what we needed! 🙄
With previously idle coins entering circulation and accumulation remaining weak, selling pressure could intensify. If ADA fails to hold above $0.58, we might be looking at full-scale capitulation. Buckle up! 🎢
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2025-04-11 16:11