Cardano (ADA) remained under selling pressure on Monday, slipping to $0.16 after declining more than 14% over the previous week. Although on-chain data shows that large investors have been aggressively accumulating ADA during the recent pullback, bearish sentiment across the derivatives market and weakening technical indicators suggest the cryptocurrency could face additional downside in the near term. Cardano whales continue accumulating ADA On-chain data from Santiment indicates that major Cardano holders have been buying during the recent dip despite the ongoing price weakness.
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