Cardano (ADA) Surges 17% on Whale Accumulation and Bullish Chart Patterns

Cardano’s (ADA) half-day chart has sparked renewed optimism among crypto traders and analysts, with signals indicating a potential breakout to $1.50. The movement has been closely monitored by market observers, including crypto analyst Ali Chart, who highlighted the emergence of a bullish channel pattern on ADA’s 12-hour chart [1]. According to his X post, “Cardano (ADA) is on the verge of a breakout to $1.50,” suggesting that the altcoin may be entering a critical phase in its price trajectory.

ADA’s recent price action has been bolstered by whale activity, with large investors reportedly accumulating significant amounts of the token. Over the past 48 hours, ADA whales added 200 million tokens, valued at approximately $157 million, pushing their holdings to 10.3% of the total supply. This accumulation pattern aligns with historical trends observed before major price surges, particularly those seen in early 2021 [1].

The growing bullish sentiment is also reflected in ADA’s price performance. Over the last 24 hours, the token surged by 17%, making it the top performer among the top 10 cryptocurrencies during that period. This outperformance has positioned ADA as a key altcoin to watch, particularly amid rising expectations for Ethereum ETF approval, which has increased from 60% to 75% [1].

Despite these positive developments, ADA remains far from its historical peak of $3.10. However, a breakout above the $1.00 level could serve as a catalyst for further upward momentum. At the time of reporting, ADA was trading at $0.92 [1].

Source:

[1] Cardano’s Half-Day Chart Hints at Mega Eruption — Is a New All-Time High Attainable? (https://zycrypto.com/cardanos-half-day-chart-hints-at-mega-eruption-is-a-new-all-time-high-attainable/)