Cardano whales move 120M tokens – But ADA could rally ONLY IF…
2025-07-09 13:22:35
Main Idea
Cardano (ADA) shows potential for a rally as whales accumulate tokens and technical indicators suggest bullish momentum, but a confirmed breakout above $0.6566 is needed for sustained gains.
Key Points
1. Cardano (ADA) posted a 3.64% gain, continuing a 7% rise over the past week.
2. Whale wallets holding 1M–10M ADA absorbed 120 million tokens (worth ~$71 million) in two weeks, signaling accumulation.
3. Investors withdrew $8.17 million worth of ADA from centralized exchanges, moving it into private wallets.
4. ADA traded at $0.5975, nearing the key resistance level of $0.6566, with the Parabolic SAR indicating bullish momentum.
5. A confirmed breakout above the triangle pattern's upper bound ($0.6566) is required to sustain the rally.
Description
Will ADA break past $0.6566 and trigger a sustained rally or stall just short of liftoff?
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