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Cardano (ADA) is quietly gaining strength amid increased whale accumulation and a notable rise in trading volume. According to crypto analyst Ali Martinez, whales have acquired more than 50 million ADA over the past 48 hours, signaling growing confidence in the asset’s long-term value. Combined with a recent 190 million ADA transaction, this suggests a strong accumulation phase underway.
CoinGecko data shows that Cardano’s 24-hour trading volume surged by 63.84%, surpassing $1.12 billion. This spike in activity points to renewed investor interest, even though ADA continues to trade sideways between $0.69 and $0.75.
Lace Wallet Adds Bitcoin Support—Will It Boost ADA?
Cardano’s development team, Input Output Global, recently introduced multi-chain capabilities to its Lace wallet, now supporting Bitcoin transactions. While the integration broadens Cardano’s ecosystem appeal, it has yet to deliver a direct impact on ADA’s price. Still, such advancements could enhance Cardano’s position in the broader blockchain space over time.
Technical Outlook: Breakout or Breakdown?
From a technical perspective, ADA is currently hovering just above a key support level at $0.69. A break below this could trigger a decline toward the $0.57–$0.60 range. On the upside, overcoming the $0.75 resistance could pave the way for a new bullish trend.
Indicators offer mixed signals. The Relative Strength Index (RSI) sits at 46.14, suggesting neutral momentum. Meanwhile, Bollinger Bands identify $0.76 as the next resistance level, with a stronger ceiling at $0.93.
Ali Martinez believes that if ADA can breach $1.15 on the daily chart, it would confirm a rising wedge formation—potentially setting the stage for a move toward $2. While price action has remained muted, rising on-chain activity and strategic ecosystem developments continue to keep investors engaged.
Long-Term Strategy in Play
TradingView data supports the notion that ADA whales are accumulating with a long-term perspective. This behavior typically precedes a push toward testing key resistance zones, though the direction will ultimately depend on broader market sentiment and investor psychology.
As reported by Turkish NY Radio, the Cardano market is at a critical juncture. If momentum builds and technical levels are cleared, ADA could very well emerge as one of the strongest performers in the altcoin space in the coming weeks.
