Cardano Whales Accumulate $166M ADA as Price Hovers Near $0.83 Resistance

Cardano (ADA) remains under close scrutiny as it hovers near critical resistance levels, with analysts emphasizing the importance of breaking through $0.83 to set the stage for a potential rally toward the $1 psychological barrier [2]. Recent on-chain data reveals significant whale activity, with major holders accumulating over 200 million ADA tokens worth approximately $166 million between August 9 and 10 [1]. This substantial accumulation, concentrated in accounts holding between 100 million and 1 billion ADA, suggests a strategic buildup that often precedes significant price action [2].

Retail investors have also joined the buying trend, contributing $11 million in spot exchange inflows during the same period [1]. This combined buying pressure from both large and small investors has helped stabilize ADA’s price, currently trading at $0.81, while broader market volatility persists [2]. Despite this, the perpetual futures market shows signs of cooling, with the long-to-short ratio dropping below 1 in the last 24 hours and trading volume declining by 21.49% to $2.14 billion [2]. However, the open interest weighted funding rate remains positive at 0.0108%, indicating that long positions still dominate the derivatives market [2].

Cardano’s price trajectory is closely tied to its ability to overcome key resistance levels. The most immediate challenge is at $0.83, with historical data showing that previous attempts to breach this level have resulted in significant pullbacks. A successful and sustained break above $0.83 could pave the way for further gains toward $0.88 and ultimately the $1 target [2]. Analysts caution that a failure to clear this hurdle may result in a substantial correction, reinforcing the importance of this price level [2].

The cryptocurrency’s technical structure has drawn comparisons to past accumulation phases that preceded strong upward trends. On-chain metrics from Into The Cryptoverse indicate that ADA’s short-term bubble risk remains moderate, suggesting there is still room for growth without triggering a speculative frenzy [2]. Cardano is also maintaining its position within its largest visible volume cloud, which means neither bulls nor bears have yet taken decisive control of the price action [1].

Bitcoin dominance continues to play a role in shaping altcoin dynamics, with ADA positioned to benefit if Bitcoin’s dominance breaks a key support level. A shift in capital flow could provide additional momentum for ADA to challenge its upper resistance levels [2]. With whales increasing their holdings and on-chain indicators showing a sustainable environment for growth, the prospects of ADA reaching $1 appear increasingly viable, particularly if the $0.83 resistance is cleanly overcome [2].

While some forecasts suggest ADA could reach $2.05 by the end of 2025 [3], analysts emphasize that these predictions are conditional on a clean breakout and favorable market sentiment. The near-term focus remains on whether ADA can maintain its stability around $0.81 and generate the momentum necessary to push through $0.83 without triggering a reversal [2].

Sources:

[1] Blockonomi, [https://blockonomi.com/cardano-ada-price-breaking-0-83-resistance-required-for-rally-to-1-level/](https://blockonomi.com/cardano-ada-price-breaking-0-83-resistance-required-for-rally-to-1-level/)

[2] AMBCrypto, [https://ambcrypto.com/166m-whale-bet-keeps-ada-steady-but-cardano-can-rally-to-1-only-if/](https://ambcrypto.com/166m-whale-bet-keeps-ada-steady-but-cardano-can-rally-to-1-only-if/)

[3] Coinpedia, [https://coinpedia.org/price-prediction/cardano-price-prediction/](https://coinpedia.org/price-prediction/cardano-price-prediction/)