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Cardano whales begin buying again as ADA price remains in a tight range
Cardano has risen by 15% in a week, maintaining an upward structure despite decreasing volume and early signs of consolidation near key price levels.
Slight accumulation of whales indicates renewed interest from large holders and potential support for ADA's ongoing upward trend.
ADA is trading between $0.668 and $0.709; a breakout could push towards $0.77, while the risk of a breakdown lies at a drop to $0.59.
The upward trend for ADA continues, but the key support must hold.
According to its EMA lines, Cardano's price remains in an upward trend, with short-term moving averages staying above long-term averages—a classic sign of sustained bullish momentum.
This alignment suggests that the broader trend favors bulls despite recent price consolidation.
However, ADA is trading within a tight range, facing resistance at $0.709 and supported at $0.668, setting the stage for a potential breakout or breakdown.
If the $0.668 support is tested and fails, ADA could drop towards the next support level at $0.634, and a deeper slide to $0.59 could indicate a more significant correction.
Conversely, a clean break above the $0.709 resistance is likely to renew bullish momentum, with the next upside target around $0.77.