Cardano's Price Recovery After Whale Intervention
After a sharp 20% sell-off, Cardano's price steadied on October 11 as whale investors bought the dip amidst broader market turbulence.
Notably, wallets holding 10M-100M ADA saw a significant increase between October 10-11, indicating large holders accumulated millions of ADA during the downturn.
Funding rates flipped positive after the crash, and traders are cautiously turning bullish again, with the short-term RSI at 45 and the Chaikin Money Flow (CMF) in positive territory, showing subtle accumulation.
As a result, the coin stabilized around $0.645, beginning a tentative recovery after heavy selling pressure pushed the price to a low near $0.62.
Big investors stepped in, and traders are slowly following.
Author's summary: Cardano whales buy the dip.
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