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Deep-pocketed whales are reportedly quickly purchasing Cardano (ADA), according to a top crypto analytics company.
According to Santiment, given how much whales and sharks are snatching at Cardano, its value is probably undervalued.
According to Santiment, a divergence between the price of ADA and the amount of accumulation indicates a positive stance. Additionally, ADA sales are beginning to decline.
Key Cardano levels To watch – December 29
When the price violated the structure in May, the market bias indicated a bearish trend. Since the structural breach, the price has been steadily declining.
Price is moving toward the $0.2000 level after breaking through the $0.3000 and $0.2600 levels. The optimistic market sentiment, however, suggests that the market will recover.
Price is moving out of the oversold area, according to the Relative Strength Index. Price has also touched the trend line’s support level, where a bull run is anticipated.
Cardano key levels
Resistance levels:$0.4400,$0.5200,$0.6000
Support levels:$0.3000,$0.2600,$0.2000
Total MarketCapitalization:$795.12B
Cardano MarketCapitalization:$8.34B
Cardano Volume:$0.20B
Market rank:9
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