In the past month, whales have accumulated 410 million ADA, valued at approximately 285 million USD, during price weakness. This buying signals long-term conviction and suggests expectations for a future breakout.
ADA has repeatedly tested the resistance level of 0.7034 USD for over ten days, with liquidity clusters above at 0.74 USD. This indicates a possibility for ADA to overcome current limitations and achieve higher price levels.
The derivatives market shows increasing bullish sentiment, with open interest rising to 778.99 million USD. This growth suggests a strong engagement and a prevailing long position sentiment among traders, reinforcing optimism for ADA.
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