Cardano climbed 22% over five days as whales accumulated 240 million ADA, pushing their combined holdings to roughly 14.5 billion tokens. The price jump from $0.16 to near $0.19 suggests large investors used the rally to bulk up positions.
On-chain data from Santiment shows the accumulation pattern aligns with the recent recovery. ADA has held most of those gains despite a minor pullback, staying up 11% over the past week. Monday trading was relatively flat around $0.18 as the market caught its breath.
Technical crossroads
The bullish whale activity masks some short-term trouble. Analyst GainMuse spotted a bearish wedge breakdown on the 30-minute chart near $0.180, with sellers taking control as volume spiked. The critical level to watch is $0.1808, bulls need to reclaim it or risk sliding toward $0.1747 and deeper support at $0.1663 and $0.1719.
Crypto Patel sees a different picture on longer timeframes. He argues ADA may be entering a major accumulation phase after one of its deepest corrections ever. The token sits well below its 2021 peak but has returned to a historical demand zone where institutional money previously built positions before major rallies. The analyst marked the $0.15 to $0.086 range as key institutional buying territory and flagged $0.2887 as a level that would confirm strength, with $0.50 offering macro confirmation.
Upcoming catalysts could fuel the next leg higher, including potential spot ADA ETF discussions and the Leios scaling upgrade. Those developments may give long-term holders the ammunition to push through resistance.
This article is informational only and should not be construed as financial advice. Always conduct your own research before making investment decisions.
