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<p>In a recent assessment by crypto analyst <a href="https://twitter.com/santimentfeed/status/1734565036872577222" target="_blank" rel="noreferrer noopener nofollow">Santiment</a>, Cardano (ADA) experienced a significant reduction in small wallets on November 17th, particularly affecting those holding between 1 and 10 ADA, accounting for 98.1% of the decrease.</p> 
<p>Such a decline in addresses of this size often signals capitulation, suggesting a potential turning point in the coin’s price trajectory. Notably, ADA has seen a remarkable surge of 65% since this event.</p> 
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<p><em>Source: <strong><a class="thirstylink" rel="nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p> 
<p>altFINS, in its insightful analysis of <a class="wpil_keyword_link" title="Cardano" data-wpil-keyword-link="linked" href="https://captainaltcoin.com/cardano-ada-price-prediction/" target="_blank">Cardano</a> (ADA), provides a detailed perspective on the coin’s current market conditions. The platform categorizes the near-term outlook for ADA as neutral, shedding light on various critical aspects.</p>  
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<p>Firstly, altFINS recognizes the prevalent pattern as an “overbought at resistance” scenario, indicating that ADA has entered into a phase of being overbought while confronting a significant resistance level. This conclusion follows ADA’s recent bullish breakout from the ascending triangle pattern and the subsequent breach of the $0.46 resistance level.</p> 
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<p><em>Source: </em><strong><a class="thirstylink" rel="nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p> 
<p>Despite the near-term cautious stance, altFINS acknowledges ADA’s overall positive trend. The coin demonstrates an uptrend across all time horizons, including short, medium, and long terms. This signals a favorable trajectory for ADA in the broader scheme of things, providing a sense of confidence for those considering long-term positions.</p> 
<p>Read also:</p> 
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<p>In terms of specific price levels, altFINS identifies the nearest support zones at $0.40–$0.42, which represents previous resistance, followed by $0.30. On the resistance side, the immediate zone is located at $0.46, which ADA has successfully breached, paving the way for a potential challenge at the $0.60 level.</p> 
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<p>The post <a href="https://captainaltcoin.com/cardano-witnessed-a-sudden-drop-in-wallets-analyst-shares-how-ada-price-reacted-to-it/">Cardano Witnessed a Sudden Drop in Wallets: Analyst Shares How ADA Price Reacted to It</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Cardano Witnessed a Sudden Drop in Wallets: Analyst Shares How ADA Price Reacted to It

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