- Cardano whales purchased 410 million ADA tokens in April, indicating strong accumulation despite the recent market pullback.
- Resistance between $0.77 and $0.80 continues to cap gains, with $0.67 now acting as an important near-term support level.
- The altcoin market remains under Bitcoin’s dominance, but rising liquidity and easing policy expectations may boost future performance.
Cardano’s price declined by 3% in the last 24 hours, dropping to $0.67. Despite this move, large holders of ADA accumulated over 410 million tokens during April. Although the broader cryptocurrency market is declining at the present moment, Crypto.com demonstrates an increased strategic purchasing of ADA. The weekend trading activity produced losses for Bitcoin, together with Ethereum and XRP.
The attempt for a rally by Cardano last week failed as it could not surpass essential resistance barriers. The price resistance maintains its position between $0.77 and $0.80. The $0.67 level now acts as a support area. If this zone holds, analysts see potential for a bounce. Sustained buying interest from whales further strengthens this outlook, although the breakout depends on key resistance levels being breached.
Market sentiment tied to Fed commentary
The prevailing sentiment of investors continues to be itself in larger economic indicator signals. Market trends are likely will be impacted by upcoming statements made by U.S. Federal Reserve Chair Jerome Powell. Market speculators continue to debate possible interest rate modifications. Positive monetary signals, together with dovish monetary policies, increase investor confidence, which drives markets to bullish territory.
The crypto market continues to favor Bitcoin. The CMC Altcoin Season Index currently stands at 26, still far below the 75 threshold that would mark the beginning of an altcoin season. Although this score has improved from last month’s 16, altcoins have yet to see a full recovery in momentum.
Global liquidity indicators have started to trend upward, providing a historically strong foundation for crypto market growth. Additionally, growing pressure for interest rate cuts in the U.S. may further support risk assets like ADA. While immediate gains may be limited, the setup suggests a favorable environment for altcoins in the medium term.
