
Smart money is pulling back from Cardano, casting doubt on any bullish Cardano price prediction.
Over the past week, the altcoin has shown signs of weakness, with long-term holders starting to move their coins.
Data from the Spent Coins Age Band shows a sharp 23% increase in older ADA being spent, rising to 114.66 million coins. This signals that experienced holders may be exiting their positions.
Despite a small bounce earlier in the week, ADA failed to build any lasting momentum, leaving the risk of new lows on the table, something big wallets appear to be avoiding.
Still, some analysts like Ali Martinez see a potential buy signal forming, as the TD Sequential indicator suggests this trend could be losing steam.
Smart money appears to be taking flight as Cardano faces a breakdown of the descending channel that has kept it in controlled consolidation over the past year.
The altcoin now faces a potential freefall, with momentum indicators showing prevailing bearish momentum.
ADA / USD 1-day chart, descending channel pattern. Source: TradingView.The MACD golden cross stands to be short-lived, already teetering on a death cross back below the signal line.
While the RSI has breached the 30 oversold threshold, a level that has consistently marked local bottoms, the momentum just isn’t there for any bounce to overwhelm the prevailing trend.
A breakdown of the channel eyes another 35% crash to $0.24, a support level that has acted as a firm bottom throughout this market cycle.
However, with a catalyst for demand like Spot ETF approval or favourable macro conditions for a U.S. interest rate ease in December, a false breakdown could put the bullish case back in focus.
A channel breakout eyes a potential 380% move to $1.80, with $0.50 and $1.34 serving as interim support.
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Visit the Official SUBBD Website HereThe post Cardano Price Prediction: Big Investors Are Quietly Pulling Out – The Worst Might Still Be Ahead appeared first on Cryptonews.