Cardano Whales Accumulate as This ADA Price Pattern Signals Potential Rally

Large-scale Cardano (ADA) investors have shown confidence in the market by accumulating a substantial number of tokens. 

Analyst CryptosRus noted that whale wallets acquired over 100 million ADA within a day. This accumulation coincides with the formation of an ascending triangle pattern on the ADA price charts, indicating a potential bullish breakout.

The substantial accumulation of ADA tokens by whale investors points toward growing market interest. Data shared by CryptosRus through X indicates that major holders added over 100 million ADA to their positions during a single 24-hour trading period. 

The current market data from CoinGecko shows ADA trading at $1.20, marking a 0.53% gain over 24 hours and a 14.83% increase across seven days.

ADA Analysis Reveals Bullish Pattern

Per the chart by CryptosRus, the price action of ADA has formed an ascending triangle pattern. It is characterized by a steady horizontal resistance level near $1.225-$1.23 and an upward-sloping support line. 

The pattern emerged following ADA’s movement from $0.9 to $1.2.  Market analysis indicates multiple tests of the resistance zone, with the support line connecting progressively higher price floors during the formation period.

Read also: Here’s Why Dogecoin (DOGE) Price Could See an Epic Breakout Soon – Analyst

Price Zones and Market Structure

The market structure presents clear support and resistance zones for traders to monitor. The primary support aligns with the ascending trendline at $1.115-$1.12, while a secondary support zone exists at $1.03-$1.05. 

The horizontal resistance at $1.225-$1.23 has proven its strength through multiple price rejections. 

Technical projections based on the triangle pattern suggest a potential move toward $1.53, calculated by adding the pattern’s height to the breakout level. The 24-hour trading volume stands at $2,878,834,575, reflecting active market participation.

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Samuel Munene
Samuel Munene

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