Cardano (ADA) price is currently showing signs of a potential consolidation phase as large transactions have surged and then stabilized over the past few weeks.

In the end of September, ADA saw a significant spike in large on-chain transactions exceeding $100,000. However, after this peak, large transactions steadily declined, signaling that major market participants may be cooling off their activity.

ADA Large Transactions Shows a Consolidation Phase

On September 26, ADA witnessed a significant spike in its number of large transactions, reaching a monthly high of 5,070. Large transactions refer to on-chain transfers with a value exceeding $100,000, and monitoring these transactions is essential for understanding market behavior, especially as they often involve institutional investors or major market participants.

These larger players can significantly impact price movements, and their activity provides key insights into market trends and liquidity. The increase in ADA’s large transactions on September 26 coincided with a positive price movement, where ADA’s price surged, reaching over $0.40 between September 26 and September 27.

This correlation suggests that the influx of high-value transactions may have contributed to or reflected a growing market interest in ADA during that period.

Read more: How To Buy Cardano (ADA) and Everything You Need To Know

However, after this peak, the number of large transactions started to decline steadily, dropping to 2,300 on October 6 and slightly recovering to 3,000 by October 7. This decrease in high-value on-chain activity could indicate a cooling-off period.

Without strong large-scale transaction activity, ADA might not be in a clear upward or downward trend, suggesting that market participants are waiting for new developments or clearer signals before making their next significant moves. This period of lower transaction volume could mean that ADA is in a holding pattern, with traders waiting for the next catalyst.

Cardano Whales Are Stable In The Last Few Days

Between September 6 and September 22, ADA whales reduced their holdings, with the number of addresses holding between 10 million and 100 million ADA dropping from 405 to 388. However, since September 22, the number of ADA addresses holding between 1 million and 100 million ADA has become relatively stable.

Currently, 2,443 addresses hold between 1 million and 10 million ADA, while 391 addresses hold between 10 million and 100 million ADA, signaling little change in their positions.

This stability indicates that ADA whales have halted their selling or buying activity, suggesting that they are in a wait-and-see mode. The lack of significant movement could imply that these large holders are waiting for clearer market conditions or signals before making their next moves, likely assessing whether to re-enter or continue reducing their positions.

This pause in whale activity often points to uncertainty, where major players prefer to stay on the sidelines, awaiting a more decisive market direction before acting.

ADA Price Prediction: Trend Direction Is Still Not Clear

ADA’s price chart is currently showing a mild downtrend, though it’s not particularly strong, as the EMA lines remain very close to one another. This closeness between the lines suggests that ADA could be entering a consolidation phase around the $0.34 level.

Exponential Moving Average (EMA) lines are key technical indicators that smooth out price data, giving more weight to recent prices. Traders commonly use EMA lines to identify trends. When EMA lines are close together, it typically indicates a lack of strong momentum in either direction, reinforcing the idea that ADA is in a period of consolidation.

Read more: Who Is Charles Hoskinson, the Founder of Cardano?

The ADA price has already broken a key support level at $0.34, signaling the possibility of further downside movement. If the downward trend continues, ADA could potentially head toward testing the next major support at $0.27.

This would mark a deeper correction in price if selling pressure increases. However, should a reversal to the upside occur, ADA would likely first test the $0.36 resistance level, followed by a challenge of the $0.41 level.

A move up to $0.41 would represent a potential 20% gain from its current price, offering an attractive target for traders if bullish momentum builds. The closeness of the EMA lines shows that the market is awaiting clearer signals before a stronger trend emerges in either direction.

Two weeks ago, Dogecoin (DOGE) price was $0.13, driving speculation that the meme coins could be circling back to its yearly high. But in the last seven days, Dogecoin’s ambitions of hitting that value have been waning as its price decreased by 8.86%. 

This shift raises concerns among DOGE investors who had initially thought the uptrend would erase the losses they have endured for months. Contrary to those expectations, this analysis reveals that the cryptocurrency may keep swinging lower before any major breakout.

Dogecoin Investors Ditch the Coin for Now

On Monday, October 7, Dogecoin’s Open Interest was $1.35 billion. Open Interest refers to the total sum of all open positions or contracts in the market. Technically, the OI, as it is commonly called, measures speculative activity. 

When the OI increases, buyers are aggressive and are pumping more money into the contracts. A decrease implies that sellers have the advantage and are increasingly closing existing positions.

Today, DOGE’s OI has plummeted to 801.99 million, indicating that traders removed about 458 million from contracts related to the cryptocurrency within the last 24 hours. From a price perspective, this massive decline suggests that Dogecoin’s price is likely to dump into the underlying support.

Read more: Dogecoin vs. Bitcoin: An Ultimate Comparison

This development contradicts the recent bullish forecast, which saw crypto whales purchase DOGE to prepare for a potential breakout. However, data from IntoTheBlock reveals that things have also changed at that end.

At press time, Dogecoin’s Large Holders Netflow has significantly fallen after rising to an impressive height on October 4. This netflow measures the percentage difference between the value of coins whales bought and sold.

When it rises, it means crypto whales have bought more coins within a certain period. A notable decline in DOGE’s situation suggests that most large investors sold and put downward pressure on Dogecoin’s price. 

DOGE Price Prediction: Bullish Narrative Fades

A look at the daily DOGE/USD chart shows that the coin has formed a head-and-shoulders pattern. This pattern indicates that an upward trend is nearing its end and is a notable bullish-to-bearish reversal.

As seen below, Dogecoin’s price is $0.10, exactly at the neckline of the pattern. The trading volume also shows fluctuations, but notably, selling activity outpaces buying pressure. Due to this position, Dogecoin’s price is likely to drop to $0.093. If the price breaks below this level, it could decline to $0.080. 

Read more: How To Buy Dogecoin (DOGE) and Everything You Need To Know

If investors hold onto their DOGE instead of selling, the coin could gradually rise, provided buying pressure increases. In this scenario, Dogecoin may see a price jump to $0.15.

Ripple (XRP) price has been under significant pressure following a series of bearish technical signals and legal developments. After the SEC filed an appeal against Ripple, XRP experienced a sharp decline.

Despite this, the RSI has moved from deeply oversold levels. That indicates that the selling pressure may be easing, though the overall trend remains bearish.

XRP RSI Is Currently Neutral

XRP’s RSI is currently sitting at 41.60, a notable jump from its deeply oversold level of 19.79 on October 3. This increase signals that the intense selling pressure seen earlier in the month has eased, and some buyers have stepped in.

However, the upward shift in RSI doesn’t necessarily point at reversal of the downtrend. It suggests that the asset has moved out of extremely oversold territory and is experiencing a potential relief rally.

The Relative Strength Index (RSI) is a momentum oscillator used in technical analysis to measure the speed and magnitude of recent price changes. It ranges from 0 to 100, with key thresholds at 30 and 70. When the RSI falls below 30, it indicates that the asset is oversold and may be due for a rebound. On the other hand, an RSI above 70 means the asset is overbought.

Read More: Ripple (XRP) Price Prediction 2024/2025/2030

An RSI of 41.60 means that XRP, while still in a downtrend, is seeing some stabilization as the market has cooled off from extreme selling. This level indicates that the bearish momentum is weakening.

However, it seems the buyers haven’t gained enough strength to reverse the trend fully. In the context of XRP’s ongoing downtrend, an RSI around 40 suggests that while the asset isn’t in oversold territory anymore, it is still under selling pressure.

Traders typically view RSI levels in this range as neutral or slightly bearish, meaning there may still be room for downward movement unless significant buying pressure emerges to push the RSI toward 50 or higher. For XRP price to break out of its downtrend, stronger bullish signals and an RSI above 50 would be needed to confirm a potential trend reversal.

Ripple’s DMI Shows Downtrend is Strong

The XRP DMI chart shows that the current market sentiment is dominated by bearish momentum. The blue line, which represents the Positive Directional Index (+DI), is sitting at 11.16. That indicates that the buying pressure is quite weak.

In contrast, the red line, or Negative Directional Index (-DI), is higher at 24.55, suggesting that selling pressure is stronger. This imbalance between buyers and sellers reflects a clear downtrend in XRP’s price movement.

The Directional Movement Index (DMI) is a technical indicator used to assess the strength of a trend. It consists of the +DI and -DI, which measure the strength of upward and downward movements, respectively, and the Average Directional Index (ADX), which measures the overall trend strength regardless of direction.

In this case, the ADX, represented by the yellow line, is currently at 38.29. That signals that the bearish trend is relatively strong. While the ADX doesn’t specify whether the trend is bullish or bearish, when paired with a higher -DI, it confirms that XRP is in a fairly strong downtrend.

For a potential trend reversal, we would need to see the +DI crossing above the -DI and the ADX continuing to rise, signaling a shift in momentum.

XRP Price Prediction: A 17% Decline Soon?

On October 2, XRP’s EMA lines formed a death cross, a significant bearish signal that occurs when a short-term EMA crosses below a long-term EMA. This event often signals a shift in market sentiment, indicating that bearish momentum is taking control.

Since the death cross, XRP’s price has dropped by 13%. That reinforces the downtrend that has been dominating the market after the SEC filed an appeal against Ripple.

EMA, or Exponential Moving Average, is a key technical indicator used to smooth price data while giving more weight to recent prices. Compared to the simple moving average, it is more responsive to short-term movements. Traders often rely on the interplay between short-term and long-term EMA lines to gauge market trends and potential reversals.

Read More: Everything You Need To Know About Ripple vs SEC

When a death cross forms, it’s generally viewed as a warning that a prolonged downtrend could be on the horizon. If XRP continues to follow this negative trend, the price could drop further. It could potentially reach $0.43, which would represent a 17% decline from the current levels.

However, if XRP price manages to reverse the bearish momentum, it could retest the resistance at $0.61. If this resistance is broken, it may create room for a further rally, pushing XRP price toward the next resistance at $0.66. That would represent a potential 26% upside from the current price level.