Big Cardano Whales On ADA Buying Spree. They Foresee Big Breakout to $1
Main Idea
Major Cardano (ADA) whales are accumulating large amounts of the token, signaling confidence in a potential breakout rally towards $1, supported by bullish technical indicators and ecosystem growth.
Key Points
1. On-chain data shows significant whale activity, with wallets acquiring 120 million ADA worth over $3.3 billion in two weeks, indicating accumulation ahead of a potential price surge.
2. Cardano's chart shows a bullish weekly golden cross, a long-term bullish indicator, with resistance at $0.83-$0.85; a breakout could push ADA towards $1.
3. ADA has rallied over 50% since early July, rising from $0.54 to over $0.83, with analysts predicting a possible surge to $1.10-$1.20 in the coming months.
4. The Cardano ecosystem is expanding with upcoming upgrades like the Chang hard fork and Leios scaling improvement, alongside growing institutional interest (e.g., Grayscale's Smart Contract Platform Fund allocating 19% to ADA).
5. Whale accumulation and technical signals suggest $1 ADA is a realistic target if key resistance levels are breached.
Description
A recent post on X by crypto commentator Mr Banana, citing on-chain analyst Alphractal, revealed that major Cardano (ADA) whales are actively accumulating large amounts of the token . The buying spree suggests growing confidence in a breakout rally, with investors increasingly targeting ADA’s next major milestone at $1. Whales Are Quietly Loading Up on ADA On-chain data confirms a marked increase in whale activity. Wallets holding between 1 million and 10 million ADA have collectively accumulate...
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