Over the past two days, large holders have purchased about 180 million tokens Cardano (ADA), which is a clear sign of growing confidence in the digital asset, according to renowned crypto analyst Ali Martinez.
The activity is part of a larger accumulation trend. According to blockchain data, large holders have accumulated about 150 million ADA, worth about $130 million, over the past two weeks. They traditionally take positions in anticipation of a potential price increase.
There are other signs of a bullish scenario for Cardano. Thus, analyst Crypto Patel notes that if ADA can turn the next resistance at $1,16 into support, then a breakout to ambitious targets at $2,68, $5 and even $10 may form on the chart, supported by a multi-year ascending trend line.
Additionally, ADA support zones at $0,73 and $0,51 provide additional downside protection, strengthening the bullish trend. The current market position at $0,88 reflects consolidation ahead of a possible breakout, while volume dynamics indicate significant participation in the trades.
Market dynamics Cardano also supports this whale optimism. ADA is trading at $0,92 at the time of writing, up 0,1% in the last 24 hours, with a weekly gain of 0,7%.