Cardano (ADA) has experienced a significant price surge of 15%, driven by substantial whale accumulation and broader market optimism. Over the past 48 hours, large investors purchased more than 180 million ADA, valued at over $160 million at current prices. This accumulation reduced available supply on exchanges, creating conditions for increased price impact from smaller demand inflows.
The price action saw ADA rebound sharply from a low of $0.82 on Friday, its lowest level since August 12, to a local peak of $0.94 before settling near $0.91 at press time. Trading volume surged during the move, with nearly 40 million ADA changing hands in a single hourly candle, indicating renewed demand after a period of drift.
Technical analysts highlight the critical resistance zone between $0.92 and $0.94, where multiple rallies have stalled in recent weeks. A sustained close above this range could pave the way for a challenge of the psychological $1 threshold. Analysts like Ali Martinez noted that whale accumulation often precedes larger upward moves, as reduced supply and increased demand historically fuel rallies.
Longer-term, ADA faces a descending trendline that has capped rallies since late 2023. A breakout above this trendline could target upside levels between $3.00 and $3.40, with some analysts like AltGem Hunter predicting even higher targets of $2.68, $5, or up to $10 if ADA turns the $1.16 level into support. The Relative Strength Index (RSI) is leaning bullish, and increased volume near resistance suggests shifting momentum.