Is Cardano (ADA) Preparing for a Bullish Breakout After Whale Accumulation?
April witnessed notable movements from large investors (whales) in Cardano, as they accumulated over 410 million ADA, which is considered a strong signal of increasing market confidence. Currently, ADA is trading below the $0.75 level after a strong upward wave, and it is in a consolidation phase amid clear resistance at this level. However, technical indicators have started to show positive momentum, supported by increased trading volume and a decrease in selling pressure from short-term investors.
Since early April, the value of Cardano has risen by over 40%, reclaiming its position among prominent altcoins, despite global economic tensions. Technical analysis suggests that a clear breakout above the $0.75–$0.80 range could pave the way for a new rise, potentially reaching psychological levels like $1.00.
On-chain data supports this scenario, as whale movements are an early signal of a potential major price move. With excitement returning to the cryptocurrency market and Bitcoin rising, Cardano may be on the verge of entering a strong upward wave — if it can break the current resistance.