Cardano’s SuperTrend Indicator Turns Bullish Amid Record Whale Holdings
- Crypto analyst Ali Martinez reports a bullish flip in Cardano’s SuperTrend signal, reversing a previous bearish trend.
- Martinez targets $0.33 as the first resistance, with $0.42 as a secondary target if momentum persists, while $0.25 serves as the invalidation level.
- Santiment data shows wallets holding at least one million ADA now control a record high of 25.09 billion tokens, or about 67.47% of the supply.
- The concentration among larger holders is the highest since July 2020, indicating strong accumulation despite a significant market cap decline.
The recent bullish signal from Cardano’s SuperTrend indicator suggests potential upward momentum following months of price decline, with key resistance levels identified by analyst Ali Martinez at $0.33 and $0.42 if sustained demand occurs.
Simultaneously, Santiment’s on-chain data reveals that large ADA holders are accumulating heavily, controlling over two-thirds of the supply, which could influence future price actions significantly depending on their trading behavior.
