Will ADA's Price Recover After Whales Buy the Dip?
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, so traders are cautiously turning bullish again. Cardano [ADA] steadied on the 11th of October after a sharp 20% sell-off, as whale investors bought the dip during broader market turbulence.
In fact, large holders accumulated millions of ADA during the downturn, helping to limit further losses and bringing in early signs of a possible recovery.
After 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.
Traders are cautiously turning bullish again.
Author's summary: ADA price recovers after whales buy the dip.