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Cardano (ADA) has experienced a rollercoaster of volatility in recent weeks, with the price going up and down significantly. After reaching a local high of $1.32, ADA rallied more than 30%, falling to $0.91 before returning to a key support level. This price movement has investors speculating whether the current recovery signals the beginning of a new bullish phase or just a temporary hiatus before further decline.
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Top analyst Ali Martinez recently shared key insights on X, leveraging the Santiment indicator to shed light on whale activity driving Cardano market movements. Martinez said large ADA holders began taking profits as the price rose from $1.15 to $1.33. However, the story changed dramatically when ADA fell below $1, with the whale once again rising to $0.91, showing renewed confidence in the token’s potential.
As whale activity and market trends heat up, Cardano has returned to a pivotal price point that could determine its trajectory in the coming weeks. Investors are now watching to see whether this phase of accumulation will foster a sustainable rally, or whether further consolidation of ADA is in store. One thing is for sure: Cardano remains a token to watch as volatility continues to shape price trends.
Data reveals cardano whale behavior
The past few weeks have been very volatile for Cardano (ADA), reflecting unpredictable movements in the broader market and strategic developments by smart money. ADA has become a focus for large investors who make calculated moves as the market evolves.
Top analyst Ali Martinez recently highlighted Santimento data highlighting the pivotal role of whale activity in shaping ADA price action. Martinez revealed that as the price rose from $1.15 to $1.33, Cardano Whale started selling its holdings and secured a large profit. However, when the price plummeted to $0.91, the same whale re-entered the market and bought a staggering 160 million ADA during the drop.
Cardano Whale Activity | Source: Ali Martinez of X
This buying spree sparks optimism and suggests that smart money views Cardano as bullish in the coming months. Such activity often indicates confidence that the asset has the potential to rebound and outperform. However, it is important to consider another perspective. This accumulation phase could also serve as a short-term liquidity strategy aimed at attracting retail investors to ADA, and could set the stage for a new wave of profit-taking by large holders.
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With the ADA hovering near crisis levels, its next move may depend on how these dynamics play out. Whether this is a harbinger of a sustained rally or a tactical move by smart money, Cardano remains an important asset to watch over the coming weeks.
Maintain price above $1
Cardano (ADA) is trading at $1.04, marking a rapid recovery after falling below the crucial $1 mark in just a few days last week. This pullback indicates strong buying interest near the $1 level, which has historically served as a psychological and technical support zone.
If ADA can maintain its position above $1 in the coming days, the next target will be around $1.20. This price level has previously caused significant selling pressure. Retrieving this level would confirm the bullish momentum and indicate that buyers are ready to challenge higher resistance zones.
ADA remains above $1 | Source: ADAUSDT chart on TradingView
For ADA bulls to maintain momentum and push the price higher, it will be important for the price to break through the $1.20 mark and consolidate. This could signal market strength and pave the way for a broader rally. However, a failure to claim $1.20 could result in another consolidation period or even a rebound as sellers may step in to protect this resistance level.
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Recent whale accumulation has added to bullish sentiment, and whether ADA can sustain above $1 and target $1.20 will determine its near-term trajectory. Traders will be closely monitoring these levels to determine whether Cardano is able to sustain its recovery and regain upward momentum.
Featured image from Dall-E, chart from TradingView
