Cardano whales buy 120 million ADA in a big move, which could trigger a price rebound

币界网报道:Cardano whales have cumulatively purchased more than 120 million ADA tokens in the past 48 hours, showing one of the most aggressive buying behaviors this quarter. Despite the relative stability of the price between $0.61 and $0.72, the activity of whales indicates that institutions or high-net-worth investors may be positioning for medium-term strategies. The buying dominance and positive funding rate in the futures market reflect the increasing bullish sentiment. A surge in short liquidations indicates that short sellers are forced to close their positions, driving prices higher. ADA prices are close to the upper boundary of the long-term descending wedge, and if they can break through the $0.8446 resistance level, they may trigger a larger rally. Overall, the accumulation of whales is in sync with multiple market indicators, and if it continues, it may push ADA into a stronger uptrend.

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