Cardano's Price Recovery
After a sharp 20% sell-off, Cardano [ADA] steadied on October 11 as whale investors bought the dip during broader market turbulence.
Big investors stepped in, and traders are slowly following. Wallets holding 10M-100M ADA rose sharply between October 10-11.
- Funding rates flipped positive after the crash.
- Traders are cautiously turning bullish again.
Large holders accumulated millions of ADA during the downturn, helping to limit further losses and bringing in early signs of a possible recovery.
In the hours following the crypto market’s record $19 billion liquidation event, ADA saw heavy selling pressure that pushed the price to a low near $0.62.
The short-term RSI was around 45, while the Chaikin Money Flow (CMF) went into positive territory; subtle accumulation. As whales stepped in, the coin stabilized around $0.645, beginning a tentative recovery.
Author's summary: ADA's price may recover after whales buy the dip.