According to crypto analyst Ali, Cardano (ADA) has seen a marked increase in whale activity over the last three months. Analyzing on-chain data, Ali points to the number of large ADA transactions above $100,000 regularly reaching new all-time highs in this period. He believes this surge indicates growing interest in Cardano from institutional crypto whales, which often acts as a precursor to major price rallies.
As whales accumulate positions in an asset ahead of a price spike, their activity can significantly impact prices and market sentiment. In Cardano’s case, this uptick in whale transactions has corresponded with impressive ADA price growth across short and long-term timeframes. Over the last 30 days alone, ADA has seen gains of 25.2%, while year-to-date growth sits at a solid 27.2%.
At the time of writing, ADA trades around $0.41 – up 4.17% in the last 24 hours and 7.08% over 7 days. As the 8th largest cryptocurrency by market cap, this recent uptrend coupled with intensifying whale interest could provide the tailwinds for Cardano to push toward new all-time highs. However, predicting future price action in the volatile crypto markets remains challenging.
In the short term, ADA bulls are eyeing a sustained breakout above the $0.41 level that previously stalled the asset’s rally in mid-November. Cardano briefly peaked at $0.415 on Monday but failed to close above this resistance. If robust trading volume can catalyze a break above this barrier, an additional upside toward the psychological $0.50 level may be on the cards.
On the other hand, a drop back below key support at $0.37 could signal profit-taking from short-term speculators. This could precede a decline toward the $0.34 zone where bulls will attempt to regain control. Ongoing whale activity and buy-side volume may play key roles in determining Cardano’s near-future trajectory.
