An analysis by Kris Does Crypto reveals an uptick in whale activity around Cardano (ADA), sparking discussions on its potential for a price surge. Alongside these developments, the analyst explores technical indicators, whale accumulation, and the political landscape’s impact on the crypto market, especially in the U.S.
What you'll learn 👉
Whale Activity and Technical Analysis
According to Kris, Cardano has seen a massive increase in whale net flows, rising by over 32,348%. This sharp accumulation by large investors often points to a potential price breakout. Historical patterns support the idea that whale activity could lead to upward price momentum.
From a technical standpoint, Cardano’s price currently faces resistance at around 36 cents, with key indicators like the RSI and Bollinger Bands suggesting possible bullish momentum.
The RSI remains neutral, providing space for a rally, while the Bollinger Bands show an imminent price surge. Additionally, the MACD signals that bullish sentiment is growing, raising speculation about the next price targets.
Potential Price Targets for ADA
Short-term predictions place Cardano’s resistance between 40-45 cents. However, more ambitious forecasts see ADA reaching $31 if broader market conditions and sentiment align. The increase in whale activity and the alignment of key technical indicators could act as catalysts, pushing ADA to higher levels if resistance is broken.
Despite these positive signs, the analyst cautions against over-optimism. While whale activity and technical indicators suggest growth, external factors such as market sentiment and economic conditions could still influence price movements.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Political Influence on Cardano’s Future
Charles Hoskinson, founder of Cardano, has voiced his opinions on U.S. politics, particularly in relation to Donald Trump.
Hoskinson believes that a Trump presidency could bring about favorable regulations for the crypto market, including the potential dismissal of SEC chair Gary Gensler. This shift in leadership is viewed as positive for crypto, including Cardano, due to the possible easing of regulatory restrictions.
Should a pro-crypto candidate like Trump win the upcoming U.S. elections, Cardano could benefit from regulatory clarity and broader adoption, potentially influencing its price performance.
Read also: Sui Network Breaks $900 Million in TVL as SUI Price Explodes
Cardano and Solana
The analysis also contrasts two top blockchain systems, Cardano and Solana. The analyst notes Hoskinson’s comparison of Cardano’s network reliability with Solana’s regular failures.
Although Cardano’s resiliency is regarded as a virtue, the larger dynamics of the crypto market remain erratic. In this instance, stability could enable Cardano to surpass its rivals over time, particularly because the market seeks dependable blockchain solutions.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
