Cardano's ADA surges 13% as whales accumulate long positions targeting $1.15

Cardano, a prominent cryptocurrency, is currently experiencing a surge in bullish momentum, with analysts and investors alike eyeing a potential breakout towards the $1 mark. This optimism is fueled by a recent rebound from a critical support level of $0.7125, which saw the price of ADA, Cardano's native token, jump by 13%.

Whale wallets, which are high-net-worth addresses, have begun accumulating long positions, indicating a strong belief in the potential for a breakout towards the $1.15 liquidity zone. This zone has previously faced several rejections, leaving behind significant untouched liquidity. Price movements often gravitate towards these crucial zones, especially when momentum builds. Thus, a successful break above $1 could trigger substantial gains, reaching $1.15 not only indicates the clearing of liquidity layers but also confirms bullish control across higher time frames.

This positioning aligns with classical breakout patterns, such as the pennant formation, which commonly leads to a continuation of the earlier trend. In this case, it suggests that ADA’s bullish trajectory may persist. The bullish Cardano price prediction receives added credence from robust whale activity. Analysis from COINOTAG using CryptoQuant’s on-chain data indicates that high-net-worth addresses are increasingly opening long positions, signaling optimism for a short-term ADA rally. Such activity by whales often precedes significant trends, implying that smart money is preparing for a potential breakout above $1.

With liquidity aspirations aligning with heightened bullish sentiments, ADA appears poised for another upward movement. A decisive breakout above $1, accompanied by strong follow-through, would further validate this bullish outlook. With encouraging technical factors and a surge in whale demand, ADA is on the brink of testing the $1 barrier. A successful breakthrough at this level would pave the way toward $1.15—a pivotal liquidity threshold that could trigger the next bullish phase.

The current momentum surrounding Cardano points toward an exciting period ahead. As ADA seeks to overcome the $1 mark, traders and investors should watch for potential bullish signals. Should the price break above $1 convincingly, this might signal a stronger uptrend, reinforcing the confidence in ADA’s future performance.