Cardano Whales Accumulate 130M ADA: $1.00 Breakout in Sight?

Whale investors acquired 130 million ADA at $0.30, strengthening support and driving a rally near $1.00. On-chain data reveals 70% of holders are in profit, fueling confidence and bullish momentum.

Whales Drive Cardano Recovery as $1.00 Milestone Looms

Cardano (ADA) is showing renewed bullish strength as whales accumulate significant amounts during the recent price correction. Over 130 million ADA were acquired at the $0.30 level, establishing it as robust support and helping ADA approach the key psychological barrier of $1.00.

Whale Accumulation Boosts Market Sentiment

Crypto analyst Ali highlighted the strategic buying activity of whales, who accumulated 130 million ADA at $0.30 during the dip. This level of accumulation not only reinforced $0.30 as a crucial support level but also signaled confidence in ADA’s long-term growth potential.

The buying pressure catalyzed ADA’s recovery, with the token rebounding above $0.35 and trading at $0.9898 at press time. Such large-scale accumulation often serves as a bullish signal for retail investors, as whales typically act with a long-term perspective.

Technical Indicators Support Bullish Momentum

• Moving Averages: ADA is trading above the 20-day SMA of $0.756, providing dynamic support for its current upward trajectory.
• Bollinger Bands: Widening bands suggest increased volatility as ADA approaches the $1.00 resistance.
• RSI: At 74.66, the RSI places ADA in the overbought zone, signaling potential short-term profit-taking but also reinforcing bullish momentum.
• MACD: A bullish crossover, with the MACD line above the signal line and a positive histogram, confirms the strong upward trend.

On-Chain Metrics Reflect Growing Market Confidence

According to IntoTheBlock data:

• Profitability: 70% of ADA holders are in profit, a significant indicator of market optimism.
• Long-Term Holders: 71% of investors have held ADA for over a year, demonstrating strong commitment to the asset.
• Exchange Net Flows: A net outflow of $2.82 million indicates accumulation by investors moving tokens to private wallets, reducing potential selling pressure.

Additionally, ADA’s 0.94 correlation with Bitcoin underscores its sensitivity to broader market trends, suggesting further gains if BTC continues its bullish momentum.

The Road to $1.00 and Beyond

With ADA trading near $0.9898, a breakout above $1.00 could lead to further price discovery, particularly as market interest and trading volume grow. However, resistance near $0.36–$0.38 could pose short-term challenges.

For ADA bulls, holding the $0.30 support level is key to sustaining the rally, while surpassing the $1.00 milestone may pave the way for new all-time highs in the coming months.

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