Whales are actively accumulating Cardano: what will happen to the price of ADA

Over the past week, the popular altcoin Cardano ADAUSDT has increased by 15%. Although key indicators still show a bullish picture, a trend weakening cannot be ruled out.

Let’s take a look at what’s going on in the Cardano market! ! ADAUSDT and what to expect from the cryptocurrency price.

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Can Cardano continue to grow

The average directional index (ADX) at the time of writing this material is 30.17. This is slightly higher than yesterday (32.76), but higher than two days ago (14.90).

Despite a slight decrease in ADX, ADA remains in a strong upward trend. This indicates that the bullish momentum is still present, although it may be slightly weakening after the intense acceleration.

As long as ADA remains at its current level, the uptrend continues. However, traders should keep an eye on further movements of ADX to avoid missing a potential signal of trend weakening.

Cardano whales are back

The number of addresses of large holders of Cardano — wallets holding from 1 million to 10 million ADA — has slightly increased to 2,408. For comparison, on April 22, this figure was 2,405.

Although the change seems minor, it may indicate a shift in the sentiments of whales, who often play a key role in shaping price trends due to significant asset volumes.

The current trend in whale activity is creating conditions for a potential recovery or a new phase of price growth for Cardano — especially if whales continue to hold their accumulations at this level or accumulate even more actively.

ADA Forecast: Should We Expect a Breakthrough

According to the EMA lines, the price of Cardano remains in an upward trend. Short-term moving averages are still above long-term ones — this is a classic sign of sustainable growth.

Currently, the cryptocurrency is moving in a narrow range: between support at $0.668 and resistance at $0.709. This creates conditions for a possible breakout or decline.

If the level of $0.668 does not hold, ADA risks dropping to the next support at $0.634. A deeper decline could bring the price down to $0.59.

On the other hand, a confident break above resistance at $0.709 will open the way to levels close to $0.77.

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