Whales have significantly influenced the market by selling over 100 million ADA tokens within a week. This selling pressure has contributed to a price decline, with ADA trading at 0.6438 USD, down 2.42% in the last 24 hours. Current trading volume stands at 682 million USD.
As Cardano nears a crucial resistance level at 0.6673 USD, analysts highlight potential for a breakout or further decline. There are signals indicating volatility ahead, with a descending channel pattern and possible bullish indicators suggesting an upward momentum if resistance is surpassed.
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