- Whale accumulation signals rising confidence in Cardano as over $20M ADA exits exchanges.
- ADA holds above key technical levels with bullish patterns hinting at a potential $0.80 breakout.
- Cardano’s DeFi growth strengthens fundamentals as TVL climbs to $442 million, boosting optimism.
Cardano (ADA) has cooled slightly after recent gains, with its price near $0.7270. The market is now focused on whether ADA can bounce from here and maintain its uptrend. Traders are closely watching the $0.75–$0.80 resistance zone, which is expected to be broken sooner or later as momentum continues to build.
Whale Accumulation and Technical Strength Support a Possible Bounce
According to an analysis prepared by TapTools, over $20 million worth of ADA was withdrawn from exchanges during the past week. These withdrawals suggest that large investors are moving assets into private wallets, which could lower selling pressure.
Lucky, a crypto analyst shared on X that ADA is following a planned strategy and responding positively after recent dips. Lucky noted that Cardano remains one of the strongest projects in the crypto space, and suggested that the community should aim to push it higher.
Meanwhile, ADA is staying above the 50-day Exponential Moving Average (EMA) around $0.6867. The Relative Strength Index (RSI) remains near 38, meaning there is still room for further buying activity without ADA becoming overbought.
Long-Term Technical Patterns Indicate Room for Growth
According to an observation by Crypto Patel, Cardano has respected a long-term rising channel on the weekly chart since 2020. Patel explained that the key accumulation range between $0.45 and $0.65 continues to offer strong support for ADA.
Another setup shared by analyst Javon Marks identified a bullish flag pattern that suggests a target price near $2.91 if the trend holds. Marks pointed out that Cardano has broken out from a descending wedge pattern, which could enable further upward movement if support near $0.66 is maintained.
Additionally, DeFiLlama data shows Cardano’s Total Value Locked (TVL) recently climbed to $442 million, reflecting growing use of Cardano’s DeFi applications.
