Cardano (ADA) Price has gradually followed the bitcoin (BTC) feeling, catalyzed by the dazzling growth of Gold. In the past seven days, Ada Price has won more than 10% to negotiate at around $ 0.645 on Tuesday, April 15, during the Mid-London session.
Similarly, Cardano’s Futures Open Interest (OI) has increased, which has increased by around 3.13% in the last 24 hours to oscillate about $ 632 million.
Cardano whales capitula
According to data on the health chain, Cardano Whales, with a balance between 1 million and 10 million ADA parts, has released more than 100 million parts in recent weeks.
Consequently, the specific ADA Whale group now holds 5.65 billion parts, currently worth around 3.64 billion dollars.
ADA price analysis
From the point of view of technical analysis, ADA Price, against the US dollar, followed a fractal model similar to the 2021 bull cycle, but with the exception of the price ends and COVVI-19. Consequently, the large capitalization Altcoin, with an entirely diluted assessment of approximately $ 29 billion and an average negotiation volume of around $ 668 million, potentially entered the final consolidation before launching the highly anticipated parabolic rally towards the discovery of prices.
For the reversal of the market, Ada Price could consolidate between 74 cents and 55 cents in the coming weeks. From a different perspective, Ada Price could continue with the bullish feeling and the climb to $ 1.38 in the near future, all without further consolidation.
Market image
The Cardano network has gradually moved to a dynamic web3 ecosystem, with total locked value (TVL) of around 298 million dollars and a market capitalization of $ 31 million stables. The mention of the Cardano network by the American SEC as a strategic cryptographic intake capable of revolutionizing government contracts, including the education system, has played a crucial role in the general adoption of ADA.
