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Cardano showed the first signs of stabilization after weeks of pressure. The ADA value is trying to bounce back from recent lows. Market data suggests that the recovery is getting support from two main groups of investors.
Large holders and long-term investors entered the market. Their activities shape the short-term sentiment around the altcoin. With the continued volatility in the cryptocurrency market, they can play a crucial role in the next movement in the value of ADA.
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Cardano holders seem optimistic
The data on the chain indicates that Cardano’s whales were Continuously supports the market. As for addresses with between 10 million and 100 million ADA, their collection has intensified in recent days. These portfolios have added up to more than 220 million ADA, worth more than $61 million at the time of writing.
This consolidation during price weakness often reflects strategic positioning. The whales took advantage of the opportunity to get low prices. Their purchases indicate confidence in ADA’s ability to recover.
Large-scale hoarding could also reduce circulating supply, which could support near-term price stability.
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Longer holders of the currency also showed a boost in confidence. The average coin life index, which tracks the average life of coins in circulation, has grown steadily. This indicator reflects whether the old coins are moving or remaining inactive.
During bear markets, a decrease in the average life of a coin often indicates potential trading and selling. But the current increase lifted the index to its highest level in three months.
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This indicates that long-term holders are choosing to hold (HODL) instead of liquidating their positions. Continued inactivity generally indicates expectations of increasing future value ADA.
ADA pricing is possible
The price of Cardano is trading at $0.278 at the time of writing. The altcoin tried to secure the $0.271 level, which is in line with the 23.6% Fibonacci retracement level. The support of this level reinforces the uptrend. Safe recovery may open the way towards $0.303.
The collection of whales with long-term holders holding the currency can inject much-needed stability into the market. If the buying pressure continues, ADA could extend its gains beyond $0.303.
The next resistance near $0.354 represents the next barrier. A decisive break above this zone could push Cardano towards $0.391, boosting recovery momentum.
However, risks remain in volatile market conditions. If ADA fails to break the $0.303 level, sellers could regain control. Continued pressure may push the price to retrace below the $0.271 support.
A decline often exposes the $0.245 level as a new downside target, invalidating the current bullish outlook.
