Cardano (ADA) Whales Accumulate 130M Tokens During Price Dip, Signaling Bullish Momentum

Market analyst Ali Charts reports that Cardano whales have purchased over 130 million ADA tokens during the latest market correction.

Cardano whales have purchased over 130 million ADA tokens during the latest market correction, a move that aligns with ADA's price surging to $0.9954, a 9.57% increase in 24 hours and a 20.07% rise over seven days, according to CoinGeko data.

Large-scale Cardano holders, controlling between 100M to 1B ADA tokens, have expanded their positions through November’s market movements. The accumulation phase coincided with ADA’s price finding support in the $0.83-$0.85 range.

Market data reveals these institutional-sized purchases helped establish a foundation for the subsequent price appreciation.

Cardano (ADA) Surges Past $1 After Whales Buy 130M Tokens During Price Dip – Here's What Might Be Next for ADA, According to Technical Analysis

Large-scale Cardano (CRYPTO: ADA) holders have expanded their holdings significantly during the recent market downturn.

According to on-chain data, Cardano whales, controlling 100 million to 1 billion ADA tokens, have been actively accumulating the digital asset in response to price movements.

As a result of this whale activity, ADA has shown remarkable resilience, with limited price decreases compared to other cryptocurrencies.

This large-scale buying behavior by Cardano whales also aligns with ADA's price appreciation.

For instance, as ADA's price surged to the $0.83-$0.85 range, these large-holders began accumulating the digital asset on a massive scale.

This buying activity ultimately served as a foundation for ADA's subsequent price increases.

For example, on Friday, ADA's price experienced a 9.57% increase over 24 hours, reaching $0.9954, with further gains of 20.07% over seven days, as reported by CoinGeko.

This price movement comes after a period of relative stagnation, with ADA's price largely holding within a narrow range for an extended period.

However, the recent market shifts have brought about significant changes in price and trading dynamics.

Chart patterns and technical analysis now indicate the possibility of continued upward price movements for ADA, with several key resistance levels in sight.

According to technical analysis by Rose Premium Signals, ADA faces resistance at multiple price points, including $1.1563, followed by T2 at $1.3658 and T3 at $1.5403.

This analysis also suggests that ADA might experience a false breakout before continuing its upward trend, with the 0.786 Fibonacci retracement level serving as a potential entry point for traders.

CoinGeko's market data further highlights ADA's strengthening position, with 24-hour trading volume reaching $2,984,595,667, indicating strong market participation.

Moreover, ADA's percentage gains across multiple timeframes, such as 24-hour, 48-hour, seven-day, 14-day, and 30-day periods, are as follows: 9.57%, 15.02%, 20.07%, 36.86%, and 93.26%, respectively.