Cardano's ADA Surges 15% as Whales Hold Steady

Cardano (ADA) price has surged by over 15% in the past week, marking a significant recovery from a 24% loss over the past 30 days. The market capitalization of ADA now stands at $29 billion, with trading volume surging over 100% in the last day to reach $895 million. Despite this rebound, whale activity remains stable, indicating that large holders are not aggressively accumulating yet.

The Average Directional Index (ADX) for Cardano has risen to 21.7 from 16.2 in just one day, signaling a strengthening trend. The ADX measures trend strength on a scale from 0 to 100, with values below 20 indicating a weak trend and above 25 suggesting a strong one. Since ADA’s ADX has now crossed 20, it suggests growing momentum, though it is not yet in a fully confirmed trend. This increase in ADX indicates that ADA is attempting to shift from a downtrend to an uptrend. While the trend reversal isn’t confirmed yet, a continued rise in ADX above 25 would signal stronger bullish momentum.

The number of Cardano whales – addresses holding between 1 million and 10 million ADA – currently stands at 2,466 and has remained relatively stable in recent weeks. Tracking these large holders is important because whales can influence price movements through significant buy or sell actions. A rise in whale activity often signals accumulation or distribution phases, impacting market sentiment and liquidity. The stability in the number of ADA whales suggests that large holders are neither aggressively buying nor selling, indicating a potential consolidation phase.

ADA’s Exponential Moving Averages (EMA) lines show short-term moving averages trending upward, signaling potential bullish momentum. If a golden cross forms, Cardano price could continue rising to test resistance at $0.90. A breakout above this level could push it to $0.98, and if momentum strengthens, ADA price could reach $1.16, trading above $1 for the first time since mid-January. On the downside, if the uptrend fails to gain strength, ADA price could retest support at $0.65. Losing this level might trigger a deeper decline to $0.50, marking a potential