Cardano Surges 2.451% Amid Whale Accumulation and Bullish Forecasts

Cardano's latest price was $0.6986, up 2.451% in the last 24 hours. This surge in price has been influenced by broader market movements and positive statements from influential figures. The coin jumped to an intraday high of $0.715 on Wednesday, its highest level since March 28 and 40% above its lowest point this month. This surge coincided with a recovery in the stock and crypto markets, as well as positive statements from Donald Trump regarding the Fed and potential trade deals with China. The ongoing trade war has raised concerns about the U.S. economy, but these statements have provided some relief and optimism.

Cardano's recent rally has also been influenced by increased accumulation by whales. Data from Santiment indicates that holders with between 10 million and 100 million coins now account for 36% of the total supply, up from 33.4% in January. This accumulation suggests a growing interest and confidence in the asset among large investors. The technical analysis of Cardano's price movements indicates a double-bottom pattern, which suggests an eventual rebound. The coin has rebounded after bottoming at $0.512 on April 7, forming a double-bottom chart pattern with the neckline at $1.173. Additionally, Cardano has moved slightly above the 50-day Exponential Moving Average and has broken above the upper boundary of the falling wedge pattern, a popular bullish reversal sign. These indicators suggest that the coin will likely continue rising, with bulls targeting the $1 resistance level, about 43% above the current price.

Cardano's recent technical breakout has rekindled bullish hopes among analysts and investors. The asset recently regained momentum after temporarily slipping below a key symmetrical triangle structure. On Monday, the asset failed to close above this formation, signaling hesitation among bulls. However, ADA’s push beyond the $0.634 resistance has placed it back within the bullish structure, reviving hopes for continued upward movement. Previous projections indicated a 27% surge to $0.801 if the breakout held. But fresh analysis now paints an even more ambitious picture.

Crypto market influencer Jad Mubaslat, popularly known as Deezy on X, recently shared an ultra-bullish forecast for Cardano. Mubaslat encouraged investors to stay the course, expressing confidence that ADA could skyrocket to $7 in the coming bull cycle—a staggering 1,071% increase from current levels. His projection is based on a repeating pattern seen in ADA’s prior bull markets. Historically, Cardano has topped out along an ascending trendline that has defined its major price peaks. In January 2018, ADA reached $1.31 by hitting this trendline. It followed the same script in August 2021, soaring to its all-time high of $3.16 before reversing. Mubaslat believes this long-standing pattern could once again guide Cardano to a fresh peak, with $7 as the next logical target if history repeats.

Echoing similar optimism, analyst Crypto Patel rejected claims that Cardano has lost relevance. He predicted a significant uptrend, projecting a 688% increase that could push ADA toward $5. Patel emphasized that the current market setup resembles the structure that triggered Cardano’s 2021 bull run. He identified a strong accumulation range between $0.45 and $0.65 as a critical phase for the asset. According to his chart, once ADA solidifies support within this zone, it could initiate a rally toward three major price milestones—$2, $4, and $6. Patel’s analysis shows that ADA continues to trade within an ascending channel, a trend that historically precedes large upward moves. For traders and long-term holders, the key, he notes, is patience.

Despite being down over 50% from its 2023 high of $1.327 and still nearly 80% below its all-time peak, Cardano continues to attract bullish sentiment from analysts and investors alike. The latest forecasts from multiple experts are further fueling expectations that ADA may soon embark on its next parabolic move. As the broader crypto market prepares for the next leg up, all eyes are on whether Cardano can maintain its current momentum and break through historical resistance zones. Should the bullish trendline hold once again, ADA’s rise to uncharted territory may be closer than many expect.

Cardano's recent developments and analyses highlight the growing interest and confidence in the asset among large investors and analysts. The platform's technical breakout, whale accumulation, and bullish forecasts suggest that Cardano may be on the verge of a significant rally. As the broader crypto market prepares for the next leg up, all eyes are on whether Cardano can maintain its current momentum and break through historical resistance zones. Should the bullish trendline hold once again, ADA’s rise to uncharted territory may be closer than many expect.