Over the past week, Cardano (ADA) has seen an influx of whale accumulation, with large investors purchasing over 180 million ADA tokens. This activity suggests renewed interest from institutional and high-net-worth investors, indicating confidence in the long-term trajectory of the Cardano price. Such accumulation phases have historically been linked to price stabilization and upward momentum.

Whale Accumulation Signals Confidence In Cardano

According to data from Santiment, wallets holding between 1,000,000 and 10,000,000 ADA have increased their holdings significantly. Crypto analyst Ali Martinez noted that these investors have accumulated over 180 million ADA within a short period, reflecting sustained interest despite market fluctuations.

Whale accumulation is often linked to price movements, as large-scale purchases reduce circulating supply. This trend has previously preceded bullish phases in Cardano price, especially when buying pressure remains steady. 

Meanwhile, recent analysis shows that ADA price may rally as high as $36, aligning with the speculation fueled by the Simpsons’ prediction. Despite ADA’s current bearish trend, analysts point to key support at $0.70, growing market interest, and ETF discussions as potential catalysts for a strong recovery.

Despite the strong accumulation, Cardano price has experienced fluctuations in recent weeks. Market analysts emphasize the importance of key support and resistance levels in determining whether the price will consolidate or break out into a new uptrend. Retail traders remain cautious, as past whale movements have not always resulted in immediate price gains.

Analyst Eilert’s Take On Price Patterns

Additionally, Crypto analyst Eilert observed that Cardano price is following a structure similar to its previous market cycle. In the last cycle, ADA retraced 52% from its high before entering an 11-week consolidation phase. This period of sideways movement allowed for accumulation before a significant breakout. Historical patterns suggest that similar price behavior has often led to strong bullish moves, especially when support levels hold.

Currently, ADA has retraced 47% from its recent cycle high and is now in its fifth week of consolidation. This mirrors the past cycle, indicating that Cardano whale activity may be reinforcing a new accumulation phase. If the pattern continues, ADA could be positioned for a major price move, provided market conditions remain favorable.

In the previous market cycle, the top altcoin rallied 4,000% from a similar support zone after a prolonged consolidation. While past trends do not guarantee future performance, historical data suggests that prolonged accumulation often precedes a price surge.

At press time, Cardano price is trading at $0.6924, reflecting an 11.82% decline in the last 7 days. During this period, ADA dropped from a high of $0.7849, with its market cap shrinking by 7.37% to $24.39 billion.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.