ADA, the native cryptocurrency of the Cardano ecosystem recorded a 3.3% drop

This selling comes as an immediate counterattack by sellers after yesterday's FOMC meeting triggered market-wide recovery.

ADA, the native cryptocurrency of the Cardano ecosystem, is currently trading at $0.71 following a 3.3% decrease during Thursday’s market session. This selling comes as an immediate counterattack by sellers after yesterday’s FOMC meeting triggered market-wide recovery.

While the altcoin market shows an intact correction trend, the renewed interest from whale investors shows potential for Cardano price recovery.

As the market session progresses, the Cardano price faces a critical consolidation period, which could determine the next stage of the bullish trend.

This session has seen whales accumulating a massive 190 million ADA tokens in the last 24 hours, as pointed out by market analyst Ali Marteniz. This substantial buying activity from large investors signals a significant uptick in interest surrounding Cardano.

The Cardano price is currently 76.35% down from its all-time high of $3.1. Notably, throughout history, such accumulation cycles from the big players have often coincided with the market bottom, which might hint at the potential for a bullish reversal in the upcoming sessions.

For nearly two weeks, the Cardano price has been consolidating above the psychological level of $0.7. This consolidation, when viewed on the 4-hour chart, reveals the formation of a triangle pattern, defined by two converging trendlines that enclose the price movements.

As the triangle's range continues to narrow, the ADA coin is approaching an apex, setting the stage for an imminent breakout, most likely occurring by the end of March.

If the whales continue their buying spree, we might see the coin price breaking above the overhead trendline and reaching the $1 mark, leading to a 38% increase from the current price level.

However, if sellers manage to overwhelm the buyers and force a breakdown below the triangle's support, the coin price could find support at the $0.6 floor. This level also coincides with a long-coming support trendline, which buyers must defend to prevent a deeper correction fall.