Cardano Whales Accumulate 190M ADA, Price Jumps 8.6%

Cardano whales executed significant buying activity, accumulating 190 million ADA within a single day. This aggressive purchase drove the price of ADA from $0.716 to $0.78, reflecting a strong confidence among large investors in the cryptocurrency's potential.

Prior to this surge, ADA's price had been consolidating within a tight range of $0.65 to $0.75 over the past ten days. The price action saw a brief spike to $0.779 before retreating to $0.669. Whales began accumulating ADA from March 16 to March 19, 2025, purchasing 50 million ADA within two days as the price stabilized.

The synchronized buying activity by whales indicated a deep confidence in ADA's future prospects, which powered the price rise. This accumulation trend suggested increased market demand, but the sustainability of this trend will determine further upside potential.

During the ten-day consolidation phase, ADA's daily price range fluctuated between $0.65 and $0.75. This phase followed intense selling pressure at the descending trendline resistance. Although the price initially broke out of the trendline, it resulted in a false breakout before resuming a steep downtrend. The trendline ultimately acted as a strong resistance level after the price rejection.

ADA maintained a confined range, forming lower swing highs and increasing swing lows within a flat trend. A price rise beyond $0.75 could signal bullish momentum, targeting the next resistance zone between $0.90 and $1.00 if the upward trend remains strong. However, if ADA fails to hold above the $0.65 level, it may test support levels below $0.58. This is attributed to the MACD’s negative reading, reflecting weak momentum through its descending signal line and declining histogram bars.

A clear breakout is essential, as current market conditions do not signal immediate bullish momentum. The market structure would shift only if ADA achieves a bullish breakout from its 10-day range. Staying below $0.65 reduces the likelihood of an uptrend, indicating further bearish trends following the descending channel pattern.

In other observations, Smart Money sentiment stood at -1.51 while the Crowd Sentiment showed 2.04. This revealed that retail investors strongly believed in ADA’s bullishness, but institutions had a negative outlook on the asset. The current disconnected state between popular investment sentiment and expert investment evaluations indicated prices were rising because of retail demand. However, institutional investors showed concerns that the uptrend might be short-lived.

The price of ADA could experience pressure from selling if smart money sentiment fails to match retail investor sentiment. However, broader market trends and large investor movements may prevent such a price decline.