$5 Cardano Ultimate Target Emerge as Whale Pulls Off 68 Million ADA from Coinbase

Cardano (ADA) is drawing renewed market focus as it tests the crucial $0.83–$0.84 resistance.

Technical analyst Emilio Bojan notes the formation of an ascending triangle. This bullish pattern could trigger a breakout toward $1 in the short term, with the potential for far greater upside ahead.

The ascending triangle is a highly reliable bullish continuation pattern, signaling mounting buying pressure as higher lows converge on a fixed resistance.

For ADA, this formation indicates steadily rising demand, suggesting sellers at the $0.83–$0.84 level may soon be overpowered.

A breakout above this zone could swiftly propel ADA to $1, Bojan explained. Reclaiming this psychological level may open the door to larger moves, with $5 as the ultimate target, over a fivefold jump from current prices.

Dutch crypto analyst Michael van de Poppe noted that September has historically been one of the weakest months for crypto, especially altcoins, while projecting a bullish Q4 for assets like Cardano, with its present price being $0.856.

Mysterious Cardano Whale Empties Major US Exchange with $54M Withdrawal

Whale Alert has flagged a massive transfer of 67,926,042 ADA, worth over $54 million, from Coinbase to an unknown wallet.

The move, one of the largest Cardano whale transactions in recent months, has sparked intense speculation about the motives behind this sudden exchange exit.

Large transfers are closely watched as they often reflect institutional or whale sentiment.

With Cardano trading just below key resistance, this withdrawal has ignited debate, seen by some as strategic accumulation and by others as a precursor to heightened volatility.

Notably, whales shifting funds off exchanges like Coinbase is often seen as bullish, signaling no near-term intent to sell.

Such moves typically indicate that coins are being secured in cold storage for long-term holding, while inflows to exchanges usually signal selling pressure.