Altcoins News
By Sakamoto Nashi
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Whale Activity Splits Market Sentiment. Analysis from Santiment indicates that wallets holding between 1–10 million ADA sold about 40…
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Technical Analysis: Falling Wedge and Key Levels. On the 4-hour chart, ADA appears to be forming a falling wedge, a pattern that could indicate a…
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Upside Potential Remains on a Breakout. Despite the short-term downside risk, Cardano bulls still see potential for a rebound.
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Upcoming Events Could Influence Cardano’s Price. Several upcoming events may significantly impact ADA’s price trajectory.
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Cardano’s Ecosystem and Treasury Growth. Beyond price action, Cardano continues to strengthen its ecosystem.
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Conclusion. Cardano (ADA) is facing a cautious period as it navigates the effects of Bitcoin’s recent…
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Cardano (ADA) has experienced a sharp decline this week, dropping roughly 12% and slipping below the $0.66 support level.
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On-chain data shows that large holders are leaning defensive, offloading portions of their ADA holdings while smaller whales continue to accumulate.
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The imbalance between selling and accumulation is reflected in derivative markets as well. Cardano’s open interest has decreased 2.12% to $669.9 million.
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On the 4-hour chart, ADA appears to be forming a falling wedge, a pattern that could indicate a potential reversal if confirmed. For momentum to shift, ADA must break above $0.74.
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Analysts are watching key support levels closely. Losing the $0.66 level could expose $0.65, followed by $0.62–$0.60 and eventually $0.57.
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Despite the short-term downside risk, Cardano bulls still see potential for a rebound. Reclaiming $0.66 and clearing $0.74–$0.
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Several analysts are even projecting a potential surge to $1.20–$1.60 if ADA confirms a strong breakout.
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Several upcoming events may significantly impact ADA’s price trajectory. The Grayscale ADA ETF decision on October 23, alongside stablecoin and ETF net flows, could affect market…
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Historically, altcoin performance tends to follow Bitcoin trends. If BTC stabilizes, ADA and other altcoins often see renewed inflows.
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