Cardano (ADA) has demonstrated impressive resilience, holding firmly above the critical $1.15 level since Monday despite an aggressive market shakeout triggered by Bitcoin volatility. While many cryptocurrencies struggled under selling pressure, ADA’s ability to maintain this support shows its strength amid uncertain market conditions.
Top analyst Ali Martínez highlighted the bullish signs for Cardano and shared data that points to a significant increase in whale activity. This uptick in large transactions indicates growing interest from institutional investors and high net worth individuals, often a precursor to substantial price movements.
As the Bitcoin shakeout spreads throughout the market, ADA’s stability above $1.15 becomes a focal point for traders and investors. If Cardano can sustain this level, it could pave the way for a bullish continuation, potentially targeting new highs. On the contrary, losing this support would indicate greater downside risk and would likely lead to a broader consolidation phase.
With ADA showing relative strength Faced with broader market turbulence, all eyes are on its next move. Will increased whale activity and bullish sentiment take Cardano to new heights or will market uncertainty prevail? The coming days will be crucial in determining ADA’s direction and its potential to outperform in a challenging market environment.
Big players continue to buy Cardano
Cardano has consistently made new highs and pulled back to hold previous highs as support. This bullish behavior indicates strong market confidence in ADA’s potential to generate significant gains in the current cycle. Whale activity has been a key driver of this momentum, and large ADA holders have significantly increased their positions.
Analyst Ali Martinez shared data on X revealing that Cardano whales have accumulated over 100 million ADA in the last 24 hours alone, valued at approximately $115 million. This increased accumulation is a very bullish indicator, suggesting that influential investors are positioning themselves for further gains.
This activity coincides with growing rumors about the arrival of an “alt season,” a period in which altcoins typically outperform Bitcoin and experience massive price rallies. Cardano’s strong fundamentals and growing network activity position it as a prime candidate for significant gains in such a market environment.
The combination of whale accumulation, solid price action, and broader market trends indicates that ADA is poised to capitalize on the potential for massive gains in this cycle. Cardano appears well poised to stand out as the market looks towards altcoins for the next big moves. Whether he can maintain this momentum will be a critical question in the coming weeks.
Price staying above key level
Cardano (ADA) is trading at $1.16 following a 15% pullback from its recent local highs of $1.32. Despite this drop, the price remains above a crucial support level of $1.15, which could determine its next move. Staying above this level is essential for ADA to maintain its bullish momentum and signal the possibility of a new rally.
If ADA holds support at $1.15 in the coming days, a push towards areas of higher supply is expected, with the potential goal of retesting the $1.32 level and beyond. This level has become a key battleground for bulls looking to regain control and drive prices higher. Such a move would confirm that the pullback was a healthy pullback within an ongoing uptrend.
However, failure to hold the $1.15 support could indicate weakness and extend ADA’s current consolidation phase. This scenario could cause the price to swing in a range, delaying any significant bullish move. Traders and investors are closely monitoring this level as broader market dynamics remain uncertain. ADA’s ability to hold above $1.15 will likely shape its near-term trajectory, making it a pivotal moment for the altcoin’s price action.
Featured image of Dall-E, TradingView chart
Fountain: NewsBTC.com
