Crypto Whale Moves 19.5 Billion Cardano (ADA), Potentially Rising Price

Cardano (ADA) shows a bullish signal that attracts investors' attention. Based on the latest on-chain data, large activities involving crypto whales on September 17 also strengthened an optimistic view of ADA tokens. In the transaction, the whale moved 19.5 billion ADA worth 6.48 billion US Dollars (Rp99 trillion), adding to speculation of potential price increases in the coming days.

This bullish signal is further strengthened by a 3% increase in Futures Open Interest in the last 24 hours. Based on data from Coinclass, ADA's Long/Short ratio is currently at 1.0167, signaling optimism among traders that prices will increase.

According to Ambcrypto information, Long/Short ratios above number 1 are often considered a positive signal. This shows that traders prefer long positions (long) or are betting on price increases. Recent data reveal that 51.2% of traders choose long positions, while 48.8% are in short positions. Open Interest gains accompanied by Long/Short ratios above 1 are often indicators that market participants are building their long positions, anticipating price increases.

In addition, positive funding levels are also a sign that market sentiment for ADA tends to strengthen. This factor shows that traders are willing to pay more to maintain their long position, supporting potential price increases.

Whale activity in the crypto market is often a strong indicator of price movements. On September 17, the increase in large transactions (with a value above US$100,000 or Rp1.52 billion) was recorded to have increased by 10%, strengthening speculation that ADA could experience a price spike in the near future. If this activity continues, ADA could potentially record a significant increase.

Technically, ADA is currently trading near a critical support level at 0.315 US Dollars (Rp4,816), without a clear bullish pricing pattern on daily graphs. However, based on historical movement patterns, if ADA manages to close the weekly candlestick above the level of 0.35 US Dollars (Rp5,351), there is a potential increase of 20% to reach the level of 0.42 US Dollars (Rp6,421).

However, challenges remain. The 200 Exponential Moving Average (EMA) indicator shows a downward trend, where ADA has been below this indicator since April 2024. This shows that despite the opportunity for an increase, bearish pressure still dominates the market.