bullish

Cardano

Value

<ul class="wp-block-list"> 
 <li>Cardano’s large transaction volume drops, signaling reduced whale activity.</li> 
 <li>MVRV ratio declines to -61.25%, indicating increased unrealized losses for holders.</li> 
 <li>Technical analysis suggests potential drop to $0.30, with $0.40 as bullish target if $0.35 breached.</li> 
</ul> 
<a href="https://thenewscrypto.com/?s=cardano" target="_blank" rel="noreferrer noopener">Cardano</a> (ADA) finds itself at a critical juncture as recent on-chain data suggests a shift in market dynamics, potentially dampening its short-term outlook. Just two days ago, the cryptocurrency appeared poised for a rally towards $0.40, but this bullish scenario has dimmed following a noticeable retreat by crypto whales. 
The large transaction volume, a key metric for gauging institutional and whale activity, has experienced a&nbsp; decline. From a peak of 19.50 billion <a href="https://thenewscrypto.com/?s=ADA" target="_blank" rel="noreferrer noopener">ADA </a>on September 16, the volume has dropped to 18.44 billion, indicating a pullback in major holder engagement. 
This metric, which tracks transactions valued at $100,000 or more, serves as a barometer for whale sentiment and can significantly influence price action. 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="683" src="https://thenewscrypto.com/wp-content/uploads/2024/09/image-50-1024x683.png" alt="" class="wp-image-108363" srcset="https://thenewscrypto.com/wp-content/uploads/2024/09/image-50-1024x683.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/09/image-50-300x200.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/09/image-50-768x512.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/09/image-50.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Source:&nbsp;<a href="https://intotheblock.com/" target="_blank" rel="noreferrer noopener">IntoTheBlock</a>
 </figcaption>
</figure> 
<h2 class="wp-block-heading" id="h-cardano-price-follows-suit-alongside-whale-interest">Cardano price follows suit alongside whale interest</h2> 
As whale interest wanes, ADA’s price has followed suit, declining from $0.36 over the weekend to $0.33 at press time. This price decrease has had a ripple effect on Cardano’s Market Value to Realized Value (MVRV) ratio, a crucial indicator of unrealized profits or losses among holders. 
The one-day MVRV ratio has plummeted from -39% on Monday to -61.25% currently, suggesting that a growing number of ADA holders are facing increased difficulty in realizing gains. 
Technical analysis further corroborates the bearish narrative surrounding ADA. The Awesome Oscillator (AO), a momentum indicator comparing recent price movements to historical ones, has shifted into negative territory after being positive on September 15. This transition signals a potential loss of bullish momentum and could foreshadow further downside. 
Additionally, ADA’s failure to breach the $0.34 level reinforces the prevailing bearish bias. Given these technical and on-chain indicators, the likelihood of a substantial upward move appears limited in the short term. 
Instead, market participants should be prepared for a potential decline towards the $0.30 support level.

Cardano’s Large Transaction Volume Drops, Signaling Reduced Whale Activity

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