The Cardano Holders are on fire! ADA Analysis

While the Bear market effect is in full swing, the holders of the ADA token wake up and come to attack the SPOT market. In recent days long-term buy orders have multiplied, and to the delight of investors, their positions are being executed with a current price of $0.32.

So I propose you study the ADA in day view and determine the best locations of purchases thanks to the HeatMap.

Daytime view analysis

We have been operating in a downward channel for weeks, and no resolution has been found. The downtrend is well in place, with low and high points getting lower and lower. By adding the fixed range profile volume indicator (applied throughout our channel), we can highlight the $0.45/$0.48 area. It corresponds to the area where we had the most work and, therefore, to a strategic point to break (if we want to go back up).

Seeing a divergence between the price and the RSI indicator is very encouraging. We have observed an RSI rising for weeks while the token’s price devalues. Thus, the ADA could return to the “Work Area” faster than expected.

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Analysis of the HeatMap (heat map)

The heat map makes it possible to visualize all the orders made on an asset and all sorted by exchanges. Before going into the subject in depth, I would like to recall how this indicator works; Each vertical line represents buy or sell orders, and their colours determine the importance of these positions (increasing from purple to yellow). In addition, all orders above price correspond to sell orders and all those below to buy orders. Thus, we can determine each asset’s buying and selling interest areas.

Regarding the ADA token, it is incredible to see how the holders manifest; on most exchanges, we observe an enormous buying density between 0.4/0.13$.


On Kraken SPOT, we observe more than 10 million buy orders between $0.19/$0.33. These orders are apologizing, which could slow down the current downtrend to stabilize or even push the price up.


The most impressive is on the Coinbase exchange; indeed, we have an extreme buying area with tens of millions of ADA to buy. As you can see, it is unheard of during this bear market to believe that the zone of $ 0.3 was particularly expected.



I would say that a potential bullish/lateral scenario is being set up on the ADA. Indeed we are beginning to see some reversal signals, but much more, a powerful manifestation of the Holders. This buying force is to be considered because it could reasonably support this decline and return Cardano much higher than we hope (in the medium term). This analysis is not investment advice; I encourage you to DYOR on your side.

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