150M ADA Snapped Up – Is Cardano Price Breaking out?

Cardano Price Tests Resistance as Investors Watch Closely

Whales accumulated 150 million ADA within two weeks, sparking speculation that Cardano price may be preparing for a major breakout. The asset now trades near key resistance levels, while network activity and investor demand suggest conditions for a potential rally.

Cardano Price Analysis Points to Crucial Resistance Levels

Cardano price is trading at $0.9261 at press time and has risen by 12.84% in the last month and 7.53% in the last day. The asset recovered from August lows of $0.70 and is in consolidation near the $0.90 region as it tests resistance.

The initial strong resistance is at $1.16, which may initiate a long-term rally. Continued trading above this zone would open the way to $2.68, mid-term objectives of $5 and ultimately $10.

Cardano price prediction: Source: X

Analysts emphasize that every resistance flip should be backed up by powerful volume to confirm the breakout. Unless a decisive move is made, Cardano price will consolidate between the range of $0.51 and $1.16, putting off a major rally.

ADA long-term forecast: Source: X

Cardano has multi-year support that began in 2022 and has since offered support to a bullish continuation. Such a structure strengthens the credibility of the setup and is in line with the investor confidence in long-term price stability.

ADA Whale Accumulation Strengthens Price Outlook

Large holders have demonstrated conviction with the purchase of 150 million ADA over the last two weeks. Whales with between 1 million and 10 million ADA have upped their supply to about 5.59 billion ADA.

Cradano whale accumulation : Source : X

In the past 48 hours alone, whales have bought another 180 million ADA, which strengthens this tendency. This accumulation trend came in line with Cardano price rally between $0.70 and $0.85, a direct correlation between purchase activity and price movement.

This accumulation is significant since whales tend to affect the general mood in the market. Their sustained interest is an indication that they believe Cardano will grow in future, and this can trigger other small investors to join the trend.

Demand is increasingly being driven by institutional participation. The exposure of the bigger entities increases the liquidity in the market and also enhances the stability of the market structure.

Network Growth and Activity Support Momentum

Cardano has exceeded 113 million transactions on its mainnet, which shows a consistent increase in use. This milestone is indicative of the steady activity of the blockchain and its status as one of the largest proof-of-stake blockchains.

https://x.com/MinswapIntern/status/1958839063231988120

Trading volumes were also robust, with a 65.69% increase to $2.37 billion in daily trading. This increased activity intensifies the liquidity of the market and forms a foundation of sustainable price movement.

The long-term inflation risk is limited by the circulating supply of ADA of 35.69 billion, as opposed to a maximum supply of 45 billion. Such a supply framework underpins the value of Cardano as an investment option to investors who want to invest in scarcity-driven assets.

At the same time, the altcoin is also extending interoperability by introducing such projects as partner chains and validator integration. These advancements are meant to enhance utility and promote wider adoption of decentralized ecosystems.

Effective staking also gives the network a strong base since security is boosted and there is a stable participation. Increased adoption of the Cardano infrastructure is a positive sign that reinforces the bullish market conditions that have been witnessed in price charts.