Cardano (ADA) has shown impressive resilience, holding strong above the critical $1.15 level since Monday despite aggressive market shake-ups fueled by Bitcoin volatility. While many cryptocurrencies struggled under selling pressure, ADA's ability to maintain this support demonstrates its strength amid uncertain market conditions.
The main analyst Ali Martinez pointed out bullish signs for Cardano, sharing data that indicates a significant increase in whale activity. This increase in large transactions reflects growing interest from institutional investors and high net worth individuals, often predating substantial price movements.
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As Bitcoin shakes up the market, ADA's stability above $1.15 will become a focal point for traders and investors. If Cardano can maintain this level, it could pave the way for a continuation, which could aim for new highs. On the other hand, losing this support would signal lower risk and possibly lead to a wider level of consolidation.
With ADA showing relative strength in the face of wider market turbulence, all eyes are on his next move. Will more whale activity and bullish sentiment propel Cardano to new heights, or will there be market uncertainty? The coming days will be critical in determining ADA's direction and ability to outperform in a challenging market environment.
Big players keep buying Cardano
Cardano has consistently set new highs and retraced to maintain previous highs as support. This bullish behavior indicates strong market confidence in ADA's ability to deliver significant gains in the current cycle. Whaling activism has been a major driver of this trend, with large ADA holders increasing their positions significantly.
Analyst Ali Martinez shared data on X reveals that Cardano whales have collected over 100 million ADAs in the last 24 hours alone, worth around $115 million. This increase in accumulation is a very positive indicator, suggesting that influential investors are positioning themselves for further upside.
This activity coincides with more chatter about the coming of “alt-season,” a time when altcoins typically outperform Bitcoin and experience massive price rallies. Cardano's strong fundamentals and growing network activity position it as a prime candidate for significant gains in such a market environment.
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The combination of a whale rally, strong price action, and broader market trends indicate that ADA is poised to capitalize on the potential for significant gains this cycle. Cardano seems poised to stand out as the market looks to altcoins for the next big moves. Whether he can sustain this momentum in the coming weeks will be a crucial question.
Price keeps above prime level
Cardano (ADA) is trading at $1.16 after a 15% pullback from its most recent local highs of $1.32. Despite this decline, the price is still above a crucial support level at $1.15, which could confirm the next move. Holding above this level is essential for ADA to maintain its supportive momentum and indicate the possibility of a renewed rally.
If ADA holds support at $1.15 in the coming days, a push towards higher supply zones is expected, potentially targeting a retest of the $1.32 level and beyond. This level has become a major battleground for bulls aiming to regain control and drive prices higher. Such a move would confirm that the pullback was a healthy move within a continuing uptrend.
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However, failure to hold the $1.15 support could signal weakness and extend ADA's current level of consolidation. This situation may see the price go up in a range, delaying any big move up. Traders and investors keep a close eye on this level as the overall market dynamics remain uncertain. ADA's ability to stay above $1.15 is likely to shape its short-term path, making this a critical moment for altcoin price action.
Featured image from Dall-E, chart from TradingView
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