ADA has a chance to regain what was lost?

At the time of writing, Cardano ADA is trading at $0.84. Compared to 7 days ago, the price is down 17%, which is the largest weekly drop among the top 10 cryptocurrencies.

Source: Trade View

However, prices are just the tip of the iceberg as there are often many signals and clues underneath. To understand this, it is necessary to analyze the data showing the possibility of an ADA reversal.

When the “shark” stops sulking?

Accordingly moodWhale/Shark Tracking can capture clues to better assess ADA movements.

The number of investors with 10,000 to 100,000 ADA is currently growing. This is a good sign as sharks seem to have a knack for predicting price increases. However, the blockchain data platform observed that investors holding 100,000 to 1,000,000 ADA coins had dumping coins.

“These two very opposite groups balance each other out and form a largely neutral indicator.”

The above disclosure may not sound all that great, but investor sentiment itself offers a little more insight. Santiment shows that sentiment is weighted, although consistently negative, but not as low as late January, despite ADA price falling more than 27% over the past 10 days.

 Source: mood

However, if you look at the number of Cardano active addresses, you can see that they are decreasing. Given the high number of active addresses, this seems quite relevant even after the December 2021 crash. But the number of recently active addresses has improved compared to the number of early January 2022

Number of active addresses 1 hour | Source: mood

Plus, there’s still reason for hope for hardcore bulls. According to IntoTheBlock, hodlers are strong and hodler balance sheets are at their highest in years, despite ADA price action being below ideal. Therefore, many investors have long-term ambitions and hopes for this asset.

Balance after holding period | Source: Into the block

However,  is not out of danger just yet. When Ukraine reported a Russian invasion and the media circulated images of explosions and air raid sirens, the FUD hit the stock market hard.

In addition, the liquidation is underway. Accordingly coin jar, about $459.46 million in crypto was liquidated in the last 24 hours. Meanwhile, data shows that ADA liquidated $8.42 million during the same period.

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