Cardano has gone down by nearly 6% in the past 24 hours as the market has finally decided to take some profits off the table after multiple weeks of strong rallies.
Trading volumes have gone up by nearly 43% and are currently nearing the $1 billion mark for Cardano, emphasizing that the selling spree might be gaining traction.
The market was spooked by a new piece of legislation that has already moved forward within the House of Representatives called the “One Big Beautiful Bill Act.”
This new law imposes high taxes on foreign-held U.S. investments and “weaponizes” the country’s capital markets according to analysts. It would make it more expensive for foreign investors to participate in the U.S. markets if passed.
Despite these headwinds, ADA whales seem to have taken advantage of the latest pullback to buy a large amount of the token.
The popular crypto trader Ali Martinez shared on X recently that whales bought more than 180 million ADA tokens worth approximately $13 million last week.
This indicates accumulation by the market’s “smart money” and supports a bullish Cardano price forecast.
Cardano Price Prediction: Late Buyers Can Take Advantage of an Upcoming ADA Drop
The daily chart shows that ADA has broken its trend line support recently as a result of a 4-day losing streak.
However, the price action will likely retest this line from below, meaning that ADA could recover to at least $0.7500 in the near term.
If that retest confirms the trend line break and the price fails to jump back above this line, it could result in a significant decline toward the $0.50 area.
Whale activity typically supports a bullish Cardano price prediction. Hence, this decline could be a good opportunity to buy ADA at a lower price. This kind of setback allows late buyers to enter the rally at a much lower price.
Hence, as new money and ‘dry powder’ enter the scene, the next leg up for ADA could push the token to higher highs, meaning a potential push to $1.
In the meantime, the best crypto presales of the year like SUBBD (SUBBD) offer significant upside potential to early buyers as their tokens are sold at a heavily discounted price ahead of exchange listings and public launches.
SUBBD (SUBBD) Surpasses $500K Mark to Create a Better Home for Content Creators
SUBBD (SUBBD) is a decentralized content distribution platform that offers a better deal to influencers and significant benefits to fans.
Since its presale event kicked off in early April, the project has raised more than $500,000 to polish its user interface and back-end systems.
SUBBD will give creators a say in the platform’s roadmap and rules and will make unfair bans and unfair profit-sharing arrangements a thing of the past.
Creators will get to keep a higher share of their income while fans will get subscription discounts, early access to new features, and custom requests through the use of the $SUBBD token.
More than 2,000 influencers have been onboarded already, with a combined following of 250 million. Once the platform is launched, the demand for $SUBBD will likely explode.
To buy this token at its discounted presale price to reap the highest returns, head to the SUBBD website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH or use a bank card to make your investment.
The post Cardano Price Prediction: On-Chain Data Shows Whales Accumulated While Retail Sold – Is a Parabolic Move Coming? appeared first on Cryptonews.
