Cardano Whale Activity Increases: A Bullish Signal for ADA?

Over the past week, the price of Cardano (ADA) has risen by more than 15%, despite a 27% decline in daily trading volume.

Momentum indicators and whale activity still suggest a strong bullish sentiment, although there are signs of price consolidation around key support and resistance levels.

ADX Indicator Analysis

According to information quoted from Beincrypto, Cardano’s Average Directional Index (ADX) currently stands at 30.17, slightly down from 32.76 the previous day, after a sharp rise from 14.90 two days earlier.

This surge indicates a strengthening trend that has recently stabilized. Although there’s been a slight decline in ADX, ADA remains in a solid upward trend, signaling that bullish momentum persists despite slowing slightly after a rapid rally.

Whale Activity and Breakout Potential

The number of Cardano whale addresses—wallets holding between 1 million and 10 million ADA—increased to 2,417 before stabilizing, indicating cautious accumulation with limited momentum.

A breakout above US$0.64 could push ADA to US$0.70 or higher, but failure to hold the US$0.59 support level risks a decline toward US$0.51.

Conclusion

Despite signs of consolidation and declining trading volume, the increase in whale activity and positive technical indicators suggest that ADA remains in a healthy uptrend.

Investors are advised to monitor key resistance and support levels in the coming days to determine the next direction of price movement.