The Cardano token ADA continued to fall this week and fluctuated around 0.21 dollars on Friday, down by more than 7 per cent compared to the beginning of the week. However, chain data indicate that some large-value currency addresses continue to be absorbed during the decline, suggesting that low-value purchases still exist, but market sentiment has not yet shifted to the same level.
One week's increase in the number of whales, 160 million ADAs.
The data on the chain show that there are between 10 million and 100 million ADA wallet addresses, with a cumulative increase of about 160 million coins since the week. This means that some large households still regard the current price as a medium- to long-term increase.
But this increase is not enough for the time being to reverse short-term vulnerabilities. While prices have been somewhat supported, overall market risk preferences have been cautious, and new purchases have yet to generate a stronger rebound.
The emptiness of derivatives continues to divide.
The CoinGlass data shows that ADA is close to 0.90 on Friday, near a low point of more than a month. The multi-space ratio of less than 1 usually means that there is more space in the market than there is in the market, reflecting the fact that derivative traders remain cautious about the back market.
However, the fund rate, weighted on a silo basis, has been revised on Thursday to 0.0013 per cent on Friday. This usually means that many people are beginning to be willing to pay the costs to maintain their positions, and the market is not one-sided.
- Giant whales: 10 million to 100 million ADAs
- Increase in size since week: approximately 160 million
- Friday rate: 0.0013 per cent
ADA is still holding 50 days and 100 days.
In terms of price structure, ADA is still above the 50- and 100-day average of the index, with an equivalent position of approximately $0.190 and 0.197. This means that the medium-term support has not been destroyed and that the short-term line retains a certain level of stability.
But kinetic energy indicators are cooling down. The relative strength and weakness index has been reduced to 50 above, and the MCD column figure is narrowing, indicating that the purchasing drive from the previous rebound is decreasing.
The price may look back at 0.173 if the next US$ 0.195 support falls; if the pressure continues to expand, the next stronger support position is close to US$ 0.150. Overall, the increase in boulders has provided some support to the market, but while the derivative sentiment remains cautious, the ADA short-line direction is not clear.