Whales Accumulate ADA: Cardano Price Set to Soar Past $1?

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Cardano price is on a roll, skyrocketing over 26% this week alone! 🚀

While the rest of us mere mortals are left scratching our heads, large wallets have been quietly increasing their holdings without a hint of heavy selling. This recent rally seems more than just a bounce, it’s a full-blown party! 🎉

Whale Wallets Keep Accumulating Steadily, Like a Hungry Hippo 🐳

The 1 million –10 million ADA wallet group, often referred to as whales, has steadily increased its holdings from a measly 33% in January to a whopping 36.15% in mid-July. Despite ADA’s sharp rally in March, these big fish haven’t trimmed their exposure. This signals that top holders expect even more upside! 📈

Whale wallets are large ADA holders who typically hold between 1 million and 10 million coins. Their behavior often influences market direction, like a giant tail wagging the dog. 🐶

No Major Exits Yet as Spend Coins Age Remains Low, Like a Sleepy Sloth 💤

The Spent Coins Age metric spiked briefly in mid-June but has dropped back to lower levels. That means older ADA coins aren’t being sold. And most long-term holders appear to be sitting tight; a classic bullish signal during uptrends. 🐂

Also, the major spike in Spent Coins Age metric, around mid-June and also early-April, didn’t align with major price spikes. This shows that the selling trends associated with older wallets are not exactly profit-inspired. This might be a good sign in an uptrending market, meaning there aren’t many rally-restricting elements in play. 🚧

Spent Coins Age measures how long coins sit before being moved. A lower value suggests reduced selling pressure from older wallets, like a lazy cat 🐱.

Cardano Price Approaches Critical Resistance, Like a Wallflower at a Dance 💃

The Cardano price is currently trading at $0.73, marginally above the 0.618 Fibonacci level ($0.7287) and heading toward the dual resistance zone:

  • Strong horizontal level at $0.77
  • 0.786 Fibonacci at $0.78

If ADA price breaks both, there’s little friction until $0.86, and from there, the 1.618 Fibonacci extension targets $1.08, representing a ~46% potential upside from current levels. That’s like getting a 46% discount on a Lamborghini! 🚗

The Fibonacci extension is drawn from the $0.51 swing low to $0.86 high, with retracement confirming support near $0.50, a textbook impulse wave. 📚

With whales accumulating, no signs of mass exits, and a clean price structure, Cardano’s rally toward $1.08 looks increasingly probable. However, a dip under $0.72 followed by the retest of the key support level ($0.68 or  .5 Fib level) could invalidate the bullish take. But let’s not rain on this parade just yet! 🌈

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2025-07-15 18:27