Cardano (ADA) is about to break out: Whales accumulate & eToro relists!
Current situation:
ADA price is currently at $0.7066 with a 24h trading volume of $905 million (CoinMarketCap).
Whales have accumulated over 180 million ADA in the past week, showing strong confidence from large investors.
eToro relists ADA in the US, opening up trading for over 38 million users, increasing liquidity and attention!
Technical analysis:
ADA is trading in the range of $0.71–$0.83 (Bollinger Bands). If it breaks through $0.83, the price could surge to $1 or more.
RSI is at a neutral level (~50), not overbought, with room for growth. However, MACD gives a bearish signal, caution is needed if the price cannot hold $0.70.
The inverse head and shoulders pattern and recent Golden Cross indicate long-term bullish potential.
Driving factors:
Whales accumulating: Large wallets (10M–100M ADA) bought 180 million ADA, worth ~ $127 million, signaling confidence in price potential.
eToro relisting: After being delisted in 2021 due to regulations, ADA returns to eToro, increasing access for retail investors.
Ecosystem development: Hard fork Plomin and integration with Mastercard, Kraken improve ADA's usability.
Strong community: 87% of votes on CoinMarketCap support ADA, outperforming Ethereum, XRP, Solana in positive sentiment.
Prediction:
Short term: If ADA surpasses $0.83, the price could target $1 or $1.5 (a 27% increase from the current level).
Long term: Analyst Dan Gambardello predicts ADA could reach $10 by 2025 if it continues the accumulation phase (176 days, close to the historical average of 179 days).
Risks: If it cannot hold the support at $0.69, the price may drop to $0.60 or lower.
