With ADA climbing, signs of a distribution phase have started to emerge.
Alphractal’s Joao Wedson echoed this caution, citing a short-term cooling period before ADA possibly rallies past $3 by October or November.
Interestingly, he targets $4.90 as his selling zone.
In the spot market, investor sentiment is clear: ADA is being sold.
At press time, CoinGlass data showed that $280,000 worth of ADA had exited exchanges in the past 24 hours. This marks the first significant outflow after days of steady accumulation.
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