Cardano News Today: Whale Accumulation Fuels Cardano's Bullish Setup as $0.86 Looms

Cardano (ADA) has shown early signs of a potential price rebound following a sharp market correction, with on-chain and derivatives data suggesting bullish momentum. Whale accumulation intensified after ADA fell to a low of $0.62 amid a $19 billion liquidation event on October 10-11. Santiment data revealed that wallets holding 10 million to 100 million ADA increased from approximately 466 to 472 during the sell-off, indicating renewed confidence among large investors Cardano Recovery Gains Momentum as Whales Buy the Dip^[1]. This accumulation coincided with a stabilization of ADA's price near $0.645, supported by positive Chaikin Money Flow (CMF) and a Relative Strength Index (RSI) hovering around 45, signaling tentative buying pressure Cardano Whales May Have Accumulated ADA After Crash as …^[2].

Derivatives markets also reflected cautious optimism. Open Interest (OI) stabilized at 284 million by October 11 after a sharp decline during the liquidation event, while perpetual swap funding rates turned positive at 0.1544, signaling renewed long exposure Cardano Recovery Gains Momentum as Whales Buy the Dip^[1]. This alignment between on-chain and derivatives data suggests a potential short-term recovery, though momentum remains incomplete. The Chaikin Money Flow's positive shift and RSI's neutral position indicate early accumulation but not a full trend reversal Cardano Whales May Have Accumulated ADA After Crash as …^[2].

Technical indicators highlight a fragile but structured price setup. ADA's price action remains within an ascending channel, with $0.61 as a critical support level. A breakout above $0.73 could target $0.86, a level previously rejected during rallies. If ADA holds above $0.61, the channel pattern suggests continuation toward $1.01 and $1.12. Conversely, a breakdown below $0.61 risks a deeper correction to $0.55 . The Spent Coins Age Band (SCAB) metric also dropped 51% since October 12, reflecting reduced selling activity and growing investor conviction .

Whale behavior further supports the bullish case. Mega whales (wallets holding over 1 billion ADA) increased their holdings from 1.50 billion to 1.59 billion ADA, while mid-tier whales (10 million to 100 million ADA) added 140 million ADA worth $89.6 million Cardano ADA Price Shows Signs of Rebound with Whale^[3]. This synchronized accumulation by large and mid-tier holders suggests confidence in ADA's long-term stability. Retail traders also contributed, with the Money Flow Index forming higher lows despite the 20% price drop, indicating sustained buying interest Cardano ADA Price Shows Signs of Rebound with Whale^[3].

However, risks remain. The Smart Money Index (SMI) remains weak, and the RSI lacks bullish divergence, meaning momentum has not fully reversed. A descending triangle pattern on the daily chart signals bearish potential unless buyers sustain higher closes Cardano ADA Price Shows Signs of Rebound with Whale^[3]. Analysts caution that ADA's path to $0.86 depends on broader market trends and Bitcoin's performance, as well as institutional confidence in Cardano's ecosystem upgrades Two Metrics Back Bullish Cardano Price Setup as $0.86 Comes …^[4].