There was evidence of Cardano whales accumulating more of the token during the downtrend- is this enough to drive a rally?
ADA holding distribution showed that addresses with tokens worth more than $10 million saw a 6.93% rise over the past month.prices bounced by 35% from Monday, the 8th of July to Saturday, the 13th of July. This swift price surge can be attributed to an increase in buying fromThe 1-day price chart has climbed above a recent lower high at $0.4235, which is encouraging in the short-term. It is a signal of a market structure shift, but it does not guarantee an uptrend will follow.
The daily RSI shot past the neutral 50 mark, another signal that momentum is shifting bullishly. The OBV climbed past the lows from two weeks ago, an indication that buying pressure underpinned the recent gains.
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