CandleFocus

Cardano (ADA) Whales Wake up From Their Sleep En Masse

Author: Content Editor
The price of Cardano (ADA) has decoupled from the altcoin market due to an increase in whale activity and transaction volume. On-chain data shows that ADA's transaction volume reached a seven-month high at $52.26 billion, while the number of whale transactions worth over $100,000 hit a six-month high. This surge in activity suggests an intensifying accumulation phase by large holders. ADA's price has risen above significant resistance levels and is approaching its eight-month high versus Bitcoin. In the past, similar whale and transactional activity has preceded a +26% spike in the ADA/BTC pairing. Technical indicators show strength, with volumes supporting the breakout and the Relative Strength Index indicating strong bullish sentiment. Important support levels on the downside are $0.56 and $0.44, while a clear break above $0.85 could lead to a rally towards $1.00. Given the current on-chain activity and whale interest, Cardano may continue its upward trajectory and become one of the best-performing assets in the market.

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