Crypto
Cardano Millionaires Load Up: Can Bulls Break Through $0.20 Resistance?
The Cardano (ADA) price is still hovering near the $0.20 resistance territory, where profit-taking trends play a crucial role.
Last week, crypto investors bought around 160 million ADA tokens at the price of $0.1776, with wallets holding between 10M to 100M ADA doing the most buying.
The setup is conflicting, with smaller time-frames showing whales distributing assets, which could mean portfolio rebalancing or selling, but daily time-frames show whales purchasing ADA for ten days in a row, pushing the CMF to 0.08.
The Chaikin Money Flow (CMF) assesses whale sentiment, while the SuperTrend price shows a broader retail picture centered around $0.182, an area Cardano's bulls have already flipped into support.