Cardano Whales Accumulate 410 Million ADA in April, Price Gains 4.6%
1min read Cardano (ADA) has garnered significant attention as new on-chain data reveals substantial accumulation by whale investors throughout April. According to crypto analyst Ali, addresses holding large amounts of ADA acquired over 410 million tokens during the month, capitalizing on the token’s price volatility. Despite fluctuations triggered by macroeconomic headlines and initial excitement around a crypto reserve initiative, ADA ended April with a 4.6% monthly gain. This accumulation indicates increased confidence in ADA’s mid-term trajectory, particularly from investors with long-term capital. Such buying activity typically precedes structural price movement and reflects repositioning by entities prepared to absorb volatility without immediate liquidity needs.
Whale Takeaways include 410 million ADA added to whale wallets in April, with the price ranging from $0.6247 to $1.19 during the month. April closed with a 4.6% net price increase. Currently, ADA is trading around $0.6876, having recently dipped below its ascending trendline support. The 50-period Exponential Moving Average (EMA) now sits slightly overhead at $0.6966, capping bullish attempts. With the price hovering just beneath $0.70, Cardano is testing a zone that could define its short-term trajectory. Momentum indicators are flashing warning signs. The MACD histogram has flipped red, and both signal lines have dropped below zero, pointing to potential weakness. However, support at $0.6704 remains intact—for now.
If bulls can push the price back above $0.70, ADA may reclaim its uptrend and retest resistance levels at $0.7268 and $0.7470. A rejection, on the other hand, could drive price action lower toward $0.6430. Key levels to watch include immediate resistance at $0.7014, upside targets at $0.7268 and $0.7470, and support levels at $0.6704 and $0.6430. For traders looking to capitalize on this setup, patience remains critical. A confirmed breakout above $0.7014 on rising volume would offer a compelling bullish entry, particularly if accompanied by a MACD crossover. Until then, the risk of false breakouts lingers. Volume and momentum confirmation will be key signals to watch before entering. With whale support behind the scenes and a potential structural breakout brewing, ADA could be positioning for a strong move—if bulls step up at the right time.
Ask Aime: "Will Cardano's recent whale activity signal a breakout?"
