Cardano Whales Bet Big as ADA Eyes Breakout
Cardano has found itself in a holding pattern, hovering just below a stubborn resistance level despite positive signals in the broader crypto market.
The price hasn’t yet managed to break out—but beneath the surface, heavyweight investors are quietly loading up.
April saw significant accumulation among Cardano’s largest holders, particularly wallets containing 10 to 100 million ADA. These entities added over 420 million tokens to their positions, suggesting a strong belief in the asset’s future potential. The move lifted whale holdings to nearly 13 billion ADA—an increase worth close to $290 million.
This kind of accumulation is more than just a show of confidence—it can shift momentum. And paired with strengthening technical indicators like the Relative Strength Index, which has reached its highest level in nearly two months, market sentiment appears to be turning more optimistic.
At present, ADA is trading just under $0.70, struggling to reclaim ground above this key threshold after being rejected at $0.74. That upper level has kept the token capped for more than a month. Still, if buyers continue stepping in and macro conditions stay supportive, Cardano may finally push through and set its sights on $0.80.
However, the outlook isn’t without risks. A drop below $0.66 could sap bullish energy and push prices toward $0.60—a level that might shake whale confidence and delay any upward breakout.
For now, Cardano sits at a tipping point, with whales quietly betting on a breakout and the market watching for a spark.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
