Cardano (ADA) is drawing significant market attention as heightened whale activity coincides with a sharp price surge and optimistic technical forecasts. Blockchain data reveals over $137 million in large-scale ADA transactions within 24 hours, signaling renewed institutional confidence and bullish sentiment.
ADA’s price has climbed approximately 75% since June lows around $0.50, recently peaking at a 20-week high of $0.896. Despite facing resistance at this level and correcting to $0.816, the cryptocurrency maintains a robust 15% weekly gain. Technical analysts highlight ADA’s breakout from a bull flag pattern, with key moving averages suggesting a potential long-term upside target near $2.70 – representing a 200% increase from current levels.
Market observers remain cautiously optimistic, noting that the bullish momentum hinges on sustained catalysts amid ADA’s heightened volatility. The whale transactions and technical indicators collectively suggest growing anticipation for continued upward movement.