Cardano Whales Boost Holdings Amid Price Decline

Cardano's price has struggled to recover, falling to $0.60 despite on-chain data indicating optimism. Large holders, known as whales, have accumulated 70 million ADA, pushing whale holdings to a five-month high. This suggests growing confidence among investors, potentially signaling a rebound. The Moving Average Convergence Divergence (MACD) indicator shows signs of improving momentum, and ADA could be nearing a potential reversal zone.