Cardano's ADA Price Surges 18% Amid Bullish Sentiment and Whale Activity

Cardano's ADA price has experienced a notable surge in recent days, breaking out of a long-term descending channel. This upward momentum is driven by renewed optimism within the broader crypto space and strong technical indicators. The sentiment shift is largely attributed to the passage of the “GENIUS and CLARITY” bills and the bullish remarks made by Cardano founder Charles Hoskinson. Hoskinson predicted that the broader crypto market is on a path toward a $10 trillion valuation, with U.S.-based projects like Cardano forming the core of this growth.

Hoskinson's statements have resonated with large investors, leading to a significant increase in whale activity on the Cardano network. Over 137 transactions of over $1 million each were recorded in the last 24 hours, indicating rising confidence among big players and suggesting strategic accumulation. Analyst Ali Martinez confirmed these spikes, mentioning that the activity was tracked by Santiment.

On the technical front, the Cardano price has broken out of its long-term descending channel this July, with the bull run ongoing. The asset most recently spiked to $0.90, breaking past May’s high. Although it has slightly retraced, it is currently sustaining levels near $0.827, with a market capitalization of around $29.48 billion. If the ADA price can hold above $0.82 during the current consolidation phase, there’s potential for a 40% rally to the $1.18 level. However, a failure to maintain this support amid increasing bearish pressure could result in a 20% pullback toward $0.68.

Supporting this bullish setup, DeFiLlama data shows that Cardano crypto’s total value locked (TVL) has climbed to $374.54 million, nearing the highs last seen in mid-May. Moreover, its 24-hour DEX volume has been on the rise throughout July, and the weekly stablecoin market cap has also rebounded slightly to $32.14 billion from a low of $31.09 billion. These trends indicate growing liquidity and a gradual return of investor activity to the ADA ecosystem.

Several technical indicators confirm that ADA may be entering a high-momentum phase. A golden cross between the 20-day and 50-day EMA signals trend reversal. The MACD line and signal line also reflect a golden cross with a rising histogram at 0.022. Meanwhile, the AO displays a widening histogram at 0.1582, and the CMF is at 0.10, which is above the neutral zone. These indicators hint at bullish momentum and increasing capital inflows into ADA crypto. Despite these bullish signals, some caution is warranted in the short term. The RSI has entered overbought territory, indicating temporary exhaustion in the rally. This suggests a brief consolidation or slight correction could allow RSI to cool down near the 60–65 range, which is a level that could reignite upward movement in ADA price.