Cardano Whales Swarm: Purchase of 100 Million ADA Could Propel ADA Past $1.5

Cardano whales bought 100 Million ADA over the past 48 hours, coinciding with the broader crypto market rebound.
ADA is back above $1, but the altcoin is consolidating within a bullish pennant pattern on the 4-hour timeframe

100 million units of Cardano (ADA) have recently caught the attention of big investors, also known as whales. This massive purchase has noticeably impacted both the Cardano network and its price. In fact, the price jumped from $0.998 to $1.11, a rise that suggests increased activity by these substantial ADA holders.

During this shopping spree, there was an overall market recovery, hinting at the possibility of additional price increases should large-scale purchases continue. On the other hand, if the activity of these “whales” slows down, Cardano (ADA) may retreat to its lower support points as shown on the charts.

The future course of the market depends heavily on continued substantial investments and overall market patterns. These factors play a significant role in deciding if ADA will push against stronger resistance levels or maintain its current position, highlighting the crucial influence that large-scale transactions by ‘whales’ have in guiding market movements.

ADA future price relies on…

After a wider market recovery, the price of Cardano climbed over the $1.00 mark, suggesting strong buying energy.

On the 4-hour chart, Cardano (ADA) has been moving in a bullish pennant pattern, and at present, it’s hovering around $1.08. Importantly, ADA dipped to a recent low of $0.87 before regaining its current position – an indication of robust support within this price range.

If the altcoin manages to burst out of its current pennant pattern, especially surpassing the $1.10 resistance barrier, it could signal an upcoming surge that might reach $1.50. This move would be consistent with the coin’s past resistance levels.

As I delved deeper into my research, the Chaikin Money Flow (CMF) index maintained a position close to the zero line, indicating a well-balanced market dynamic and a steady uptrend. Remarkably, this stability held firm even amidst the broader correction experienced in the crypto markets.

Therefore, hitting a resistance point at $1.50 appears achievable, particularly as long as the Cumulative Moving Average (CMF) stays above the non-declining level, indicating persistent buying pressure.

In simpler terms, while ADA’s ongoing consolidation suggests potential for upward price movements, a failed breakout could lead to pullbacks. This emphasizes the importance of investor sentiment and trading volume in predicting the direction of the next major price change.

Number of large transactions

In early December, there was a significant increase in large ADA transaction numbers, peaking at approximately 5,620 transactions, with a notable surge on the 3rd. However, since then, this transaction activity has been gradually decreasing, despite the price of ADA staying relatively stable around $1.20.

At present, major transactions have hit a 7-day minimum of 4,170 – This indicates a decline in the number of substantial trade exchanges.

A significant decrease in extensive trades could indicate a slowdown in buying power or a period of stabilization, potentially limiting any immediate increases in prices.

If the current pattern persists, it’s possible that ADA could find it challenging to maintain its high prices. This situation might result in a fluctuation or even a decrease in value unless there’s a significant increase in large trades to boost the price upward once more.

2025-01-16 17:44

ADA future price relies on…

Number of large transactions

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