Cardano News: Could ADA Price Be Headed for a Pump As Whale Stack Up

• Whales bought over 20 million ADA in 48 hours
• Cardano price stalls around $0.8500 and showed inherent strength.

Cardano (ADA) price continued going sideways around the $0.8600 in the past two weeks and primed for a potential up move. However, it has gained investor attention as massive purchases by large scale investors were noted in the last 48 hours.

Amidst this, it raises speculation about the future direction of Cardano’s value. It replicates that whales are positioning themselves for a potential upsurge.

At press time, ADA price traded at $0.8551, noting an intraday drop of over 1.09%, representing narrow range moves. Its market cap stood at $30.04 Billion, ranked 9th among the top crypto coins.

How Whales Influence Market Movements

The Cardano network has drawn significant attention as whales have bought over 20 million ADA tokens in the last 48 hours.

As per an analytics agency, whales with over 1 million but less than or equal to 10 million ADA were involved in the major accumulation witnessed in the last two days.

This is a big boost for Cardano as whale action is often the first sign of the potential market changes. These entities accumulated assets at scale if they have had a high conviction that the asset price is going to be going up in the future.

However, the most interesting and impressing aspect is the extension of this buying spree. This is a huge amount of capital coming into the ecosystem and has aggregated to over twenty million ADA tokens in such a small period.

As whales continue to grow their holdings, the spotlight shifts to whether these investors foresee a breakout rally or are merely accumulating in anticipation of favorable market conditions.

Analyst Predicts Potential ADA Price Rebound

A recent tweet by Michael Van De Poppe highlighted that, ADA price has shown noteworthy retracement and retested the support zone. It has given an opportunity to enter into the long trade and is expecting a significant bullish leg up in the coming days.

First, the altcoin could revisit the recent 52 week high trajectory and if it sustains there, it may go high as $2.50 in the short term.

Technical Analysis: Can Cardano Price Reclaim the $1 Spot?

Cardano’s price action paints a mixed picture. After hitting the 52 week high mark of $1.32, ADA price saw a sharp retracement and continued to form the lower lows. It has breached the 20 day EMA and 50 day EMA mark.

The Relative Strength Index (RSI) line indicates a neutral stance at 40, suggesting a weak negative outlook.

Meanwhile, On-Balance Volume (OBV) reveals heightened accumulation, hinting at rising buyer interest.

However, the sideways price movement coincides with broader market corrections, though Cardano’s volatility remains amplified by whale activity.

If ADA price reclaims the $1 mark, bullish momentum might return. However, failure to defend $0.8400 could invite further downside.

The immediate support zones were $0.8200 and $0.800, whereas the resistance zones were $0.9300 and $1.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.