Cardano ($ADA ) is on an upward trend and aiming for the $1 mark as large wallets continue to accumulate. Below are some key factors supporting this bullish trend:

- *Accumulation by large wallets*: Whale wallets holding between 1 million and 10 million ADA have increased their holdings from about 33% in January to 36.15% by mid-July. This indicates that top holders expect prices to continue rising.

- *No signs of a strong sell-off*: The Coin Age Destroyed index has decreased to lower levels, indicating that old ADA coins are not being sold off and most long-term holders are holding tight.

- *Important resistance*: The price of Cardano is currently trading around $0.75 and heading towards a double resistance zone consisting of a strong horizontal level at $0.77 and Fibonacci 0.786 at $0.78. If both of these levels are broken, the price of ADA could rise to $1.08, which corresponds to a potential increase of about 46% from the current level.

However, if the price drops below $0.72 and tests the important support level of $0.68 or the Fibonacci 0.5 level, it could invalidate the bullish trend.