Cardano (ADA) is riding a bullish wave, driven by significant whale accumulation and strong market dynamics. Whales recently acquired over 130 million ADA tokens during a price dip to $0.30, solidifying this level as a key support zone.
Whale Activity and Key Support Levels
Prominent crypto analyst Ali highlighted the whale activity, signaling growing confidence in ADA’s long-term potential. Historically, whale accumulation during downturns acts as a bullish indicator, often prompting retail investors to follow suit.
Following this surge in buying, ADA has rebounded to trade near $0.99. Analysts are eyeing resistance in the $0.36–$0.38 range, with the psychological $1.00 level as the next significant target.