Experts have recently offered mixed views on Cardano’s price prediction, reflecting the ongoing volatility in the broader digital assets market. The ADA price has continued to hover in negative territory today, trading down over 1% and falling below the key support level of $0.60.
Amid this scenario, a renowned expert has hinted at a potential further decline in the asset’s value before a possible rebound in the near future. Meanwhile, the recent downturn in the crypto market has presented buying opportunities for traders looking to “buy the dip.”
### Cardano Price Dips, But Derivatives Data Suggests Recovery
At the time of writing, ADA was priced at $0.5743, down more than 1%, with trading volume dropping 11% to $744 million. Despite today’s losses, Cardano has gained 7% over the past week but still shows a nearly 19% decrease on the monthly chart.
In the last 30 days, the crypto experienced a high of $0.7351 and a low of $0.4934, highlighting the market’s high volatility. However, despite the recent price drop, ADA Futures Open Interest increased by more than 2%, reaching $680 million. This rise indicates bullish sentiment in the derivatives market, which could support a potential price recovery.
Amid this mixed market picture, a recent Cardano price prediction of $0.70 has attracted considerable attention from traders.
### Cardano Price Prediction Amid Whales’ Aggressive Buying
Ali Martinez recently shared a Cardano price prediction that has caught the eyes of many traders. In a post on X (formerly Twitter), Martinez suggested that ADA is likely to retest the $0.50 support level in the coming days. According to him, maintaining this support is crucial for Cardano to sustain a bullish trajectory.
If ADA holds the $0.50 support, a rebound toward $0.70 could be possible. However, if Cardano breaks below this support, further downside momentum may follow.
Interestingly, the dip below $0.50 has triggered aggressive buying by large investors, often referred to as whales and sharks. Data from Santiment reveals that in just one week, these key stakeholders have added a substantial 348 million ADA to their holdings — worth approximately $204.3 million. This acquisition represents 0.94% of the total ADA supply, highlighting growing confidence among large investors.
### What This Means for Investors
The accumulation of ADA by whales and sharks indicates a long-term bullish outlook among major players despite short-term volatility. For traders, the dip to $0.50 may serve as an attractive entry point to buy Cardano at a discounted price, potentially positioning themselves for the anticipated recovery.
As always, investors should closely monitor price movements around the $0.50 support level and stay informed about market trends to make well-informed decisions.
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Stay tuned for more updates on Cardano and the broader crypto market as the situation develops.
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