On-chain sentiment data shows that whales accumulated 80 million ADA in 48 hours, bolstering bullish trends. Widespread buying activity indicates increased confidence from major players, which could lead to a breakout. Whales typically drive market changes, and their renewed interest in Cardano may suggest a long-term rally.
As a short-term barrier, $0.90 must be regained to open up higher targets. The coming days may determine the price structure of ADA. If the bulls surpass this barrier, the next rally could reignite enthusiasm for Cardano and alternative coins.
Whale accumulation indicates strength: buyers want to achieve a breakout.
Despite this strong return, ADA is still 43% behind its all-time high in December 2024 at $1.32. Alternative coins are cautiously optimistic, as evidenced by this gap.
ADA is forming a base above $0.74, which could lead to a breakout. The market structure is tight, so the next move – up or down – could be sharp. Any sharp rise above $0.90 would confirm a breakout and could revive interest from retail and institutional investors.
This widespread accumulation suggests that major players have become more confident, which could trigger further upside. Whale activity is often accompanied by significant price movement, indicating that ADA may be on the verge of a big move.
After dropping below $0.80, #Cardano is trying to break through a critical support area around $0.74. ADA rose to its local highs of $0.90 in May, but has since retraced and is settling above its 200-day exponential moving average (around $0.71). This level represents dynamic support and may determine the next movement.
Price structure shows that #ADA is at a critical stage. If the price breaks above the exponential moving average and horizontal support at $0.72, it could retrace to previous consolidation areas. However, a recovery from the $0.80 level would negate bearish expectations and suggest a rise toward $0.90 and $1.00, the historical barrier.
The current decline has seen a notable drop in trading volume, indicating profit-taking rather than panic selling. To sustain the uptrend, watch the simple moving average of 200 above $0.80.