Altcoins News
By James Thorp
1 / 15
Cardano (ADA) is once again drawing attention from investors as key on-chain metrics and technical patterns suggest a strong case for further price gains.
2 / 15
Despite testing this psychological barrier in the past month, ADA has not experienced significant selling pressure.
3 / 15
Open Interest and Reduced Selling Pressure Suggest Strength
4 / 15
Data from Coinalyze shows that open interest in ADA climbed above $90 million since September 5, while the token’s price rose by 9.9%.
5 / 15
Further, Cardano’s spot exchange netflows turned negative, meaning that more tokens are leaving exchanges than entering them.
6 / 15
Technical Patterns Back a Rally Toward $1
7 / 15
Cardano’s recent price action confirmed a breakout from the descending wedge pattern, a formation often associated with bullish continuation.
8 / 15
At the same time, Ethereum’s (ETH) price strength is contributing to optimism across the altcoin market.
9 / 15
Whale Activity and Long-Term Holders Show Confidence
10 / 15
One of the most telling signs of bullish conviction comes from whale accumulation. According to blockchain analytics shared by Joao Wedson, founder of Alphractal, the top 100…
11 / 15
Additionally, 54% of ADA’s available supply is held by long-term holders (LTHs), further reinforcing confidence in the project’s outlook.
12 / 15
Investors are advised to monitor broader market signals, particularly news affecting Bitcoin (BTC).
13 / 15
Minimal Profit-Taking Supports Accumulation Thesis
14 / 15
Despite a noticeable price surge on August 14, Cardano’s dormant circulation did not spike significantly, suggesting that holders refrained from realizing profits.
15 / 15
Meanwhile, daily active addresses have remained flat since April, indicating that although network activity hasn’t surged recently, investors are still holding positions rather…
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