Cardano whales bought over 410 million ADA in April, signalling confidence at current prices. Data shows wallets holding 10M–100M ADA grew from 12.47 billion to 12.89 billion ADA, representing a purchase worth nearly $289 million. Analyst Ali Martinez confirmed the surge, noting that whales are strategically accumulating below $0.70.
Smaller whales, holding between 1M and 10M ADA, also increased in number, from 2,405 to 2,408 addresses. This synchronised accumulation suggests large investors see ADA as undervalued, often a sign of a pending bullish move.
ADA Price Climbs, Faces Key Resistance
ADA currently trades at $0.68, marking a 40% gain from April lows. However, it now faces strong resistance near $0.75 and a major technical ceiling at the 200-day moving average of $0.77. This zone may determine whether ADA continues upward or retreats.
Related article: Cardano Struggles to Hold $0.64 as Volume Dips Nearly 4%
The RSI hovers around 46, indicating neutral momentum. Meanwhile, the MACD shows a bearish crossover, reflecting short-term caution among traders.
Source: Tradingview
ADA remains range-bound between $0.66 support and $0.75 resistance. A clean break above $0.75, especially with volume, could pave the way to $0.80 and set ADA on course toward $1. However, failure to break resistance may trigger a drop to $0.60 or even $0.54.
On-Chain Activity and DeFi Growth
Despite a dip in retail activity, daily active addresses fell from 50,000 to 42,000, and Cardano’s DeFi sector continues to expand. Total value locked (TVL) rose 6.7% this week to $331 million.
Related article: Cardano Price Stalls: Can ADA Recover Lost Momentum?
New staking options, smart-contract activity, and Bitcoin support in the Lace wallet add to the bullish case. In the short term, ADA may continue consolidating. Whales are clearly preparing for a bigger move.
If the price breaks above $0.75–$0.77 with substantial volume, the rally to $1 becomes more likely. Until then, ADA trades in a tight range, offering whale activity a key signal for what’s next.
