Large holders amass Cardano, causing price recuperation speculation
Buckle up, investors! Cardano's price surge might be just around the corner
Cardano, the beloved layer-1 network, is currently trading at $0.70. The cryptocurrency has been consolidating for a few days, but signs point towards a potential rebound.
According to recent reports, whales are starting to accumulate Cardano (ADA). Santiment data reveals that whales with between 10 million and 100 million ADA coins have increased their holdings to 12.8 billion, a significant jump from 12 billion in January. Similarly, whales with between 100 million and 1 billion ADA coins have boosted their holdings to 3.14 billion from 2.6 billion in March. This accumulation trend is expected to continue as sentiment in the crypto industry improves.
Retail and institutional demand for ADA is also on the rise. Staking data shows that investors have added 307 million ADA tokens worth $215 million in the last 30 days.
Three reasons to be hopeful
- Bitcoin's performance: Cardano’s price trends often correlate with Bitcoin’s. If Bitcoin continues to rise, it's likely that ADA’s price will follow suit, creating favorable conditions for a rebound.
- SEC approval for Cardano ETF: The U.S. Securities and Exchange Commission, under the leadership of Paul Atkins, is rumored to be considering approving a spot Cardano ETF. This approval would drastically improve ADA’s price by increasing institutional participation and making the cryptocurrency easier to access for regular investors.
- Integration with Bitcoin: Recent discussions have emphasized integrating Cardano’s smart contract capabilities with Bitcoin’s network. Such integration could significantly increase Cardano’s utility, attract more developers and users, and support upward price pressure.
Technical Analysis
The daily chart shows that ADA price is consolidating at a crucial resistance level. It's holding steady at the 50-day and 100-day Exponential Moving Averages (EMA). The coin is also hovering slightly below the upper side of the falling wedge chart pattern. This setup often leads to a strong bullish breakout over time.
A potential bullish breakout would push Cardano price to $1.176, the neckline of the double-bottom pattern. This double bottom, a top bullish sign in the market, could indicate a major upward move for ADA.
Looking ahead
Multiple forecasts suggest that ADA could break above $1.00 in 2025, potentially reaching $1.80 to $2.60 if momentum continues to build. Some forecasts are even more optimistic, predicting gains up to 350% by mid-2025, with prices possibly reaching around $2.88 by June 2025.
However, some analyses predict more moderate gains, with ADA trading between $0.60 and $1.11 for most of 2025. AI-driven and other expert analyses speculate possibilities of ADA hitting $7 or even $12 in an extended bull market tied to key catalysts like ETF approval and Bitcoin price surges.
In conclusion, the current outlook for Cardano’s price rebound is cautiously optimistic. Whale accumulation, a rising Bitcoin price, potential U.S. Cardano spot ETF approval, and Cardano’s integration with Bitcoin are all significant factors that could contribute to a major upward move for ADA in the coming months and years.
- The increase in Cardano (ADA) whale holdings suggests a potential rebound might be on the horizon, as whales with 10 million to 100 million ADA coins have increased their holdings by 8%, and those with 100 million to 1 billion ADA coins have increased their holdings by 21%.
- Investor sentiment in the crypto industry is improving, potentially driving retail and institutional demand for ADA, as staking data indicates that investors have added 307 million ADA tokens worth $215 million in the last 30 days.
- The performance of Bitcoin, the dominant cryptocurrency, often affects Cardano’s price trend. If Bitcoin continues to rise, ADA’s price is likely to follow suit, creating favorable conditions for a rebound.
- The U.S. Securities and Exchange Commission's potential approval of a spot Cardano ETF could drastically improve ADA's price by increasing institutional participation and making the cryptocurrency easier to access for regular investors.
- Integrating Cardano’s smart contract capabilities with Bitcoin’s network could significantly increase Cardano’s utility, attract more developers and users, and support upward price pressure.
- A potential bullish breakout could push Cardano's price towards $1.176, a significant upward move that could indicate a major price increase in the coming months and years, according to multiple forecasts.
