Cardano's trading volume surges, affecting the future of ADA

The large transaction volume of Cardano (ADA) has significantly increased, with a transfer amount reaching up to 25 billion within 24 hours. The surge in on-chain activity is consistent with the price trend of ADA, so it's necessary to carefully study the on-chain indicators and their potential impact on future assets. On-chain data shows that the number of large transactions has significantly increased, which usually indicates significant movements in wallets of whales or institutional investors. These movements may suggest that the market is preparing for bullish or bearish developments. The recent peak trading volume reaching 27.67 billion ADA highlights the intensity of this activity.

The price chart of ADA tells a tense story. After a period of decline, ADA showed signs of recovery, hovering around its 50-day moving average line at approximately $0.5 but without any clear breakthroughs yet. As ADA trades slightly below this key EMA level, focus lies on whether it can gather enough momentum to surpass this level. If successful, it might face its next resistance at about $0.55 which would be consistent with an increase in on-chain activity; otherwise if unable to break through the 50 EMA line, ADA could retest support near $0.49 - recently low point - potentially serving as a springboard for another attempt at rising again.The future direction will depend upon both increasing chain activities and market buying activities.However,the market currently seems paused before possibly rallying again.With weekend approaching,the decrease in liquidity and volatility may lead to substantial drop in prices.