Whales Accumulate 120 Million ADA as Cardano Price Tests Key Resistance - Blockonomi

TLDR:

• Whales accumulate over 120M ADA in 48 hours, raising bullish speculation.
• ADA faces resistance near $0.74, with cloud signals showing mixed momentum.
• MACD crossover hints at a reversal, but overall momentum remains weak.
• A breakout above $0.74 may confirm a bullish trend; $0.66 remains key support.

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Large Cardano holders have accumulated over 120 million ADA within 48 hours, signaling renewed interest amid price uncertainty. This sudden move by whales has raised market interest as ADA remains in a tight trading range. 

Market data shows that the asset is approaching a decision point, where a breakout or breakdown could determine its next direction. Technical indicators offer mixed signals, with early bullish signs but no confirmed momentum shift yet. 

Despite the accumulation, Cardano’s ADA price remains under pressure near crucial resistance zones.

Whale Accumulation Fuels Speculation Around ADA Price Movement

According to market observer Ali (@ali_charts), whale wallets added more than 120 million ADA in the past two days. 

The buying pattern, tracked through Santiment data, often precedes short-term price rallies. These large acquisitions come at a time when ADA’s price has ranged between $0.66 and $0.74, creating speculation about an upcoming move.

Whales have bought over 120 million #Cardano $ADA over the past 48 hours! pic.twitter.com/TBp6OL1zQq

— Ali (@ali_charts) June 10, 2025

This pattern of accumulation aligns with previous whale behavior, where similar buying activity sparked upward moves. However, analysts caution that price action alone doesn’t confirm a breakout. 

Cardano must overcome resistance around $0.70 to validate a stronger bullish bias.

On the daily chart, ADA/USDT is trading at $0.6946, nearing the lower edge of the Ichimoku Cloud. This position suggests neutral-to-bearish sentiment, as the price has yet to close clearly above the cloud. 

The cloud ahead is red, reflecting a bearish outlook unless ADA breaks above it with volume support.

The conversion line (Tenkan-sen) remains below the baseline (Kijun-sen), reinforcing the current lack of bullish confirmation. Key resistance levels lie between $0.70 and $0.74, where previous price attempts have been rejected.

Cardano Indicators Show Early Signs but Lack Strong Confirmation

MACD on the daily chart is showing a bullish crossover, indicating the possibility of trend reversal. Still, both MACD and signal lines are below zero, meaning momentum remains weak for now. 

RSI currently sits at 47.79, just below the neutral midpoint, showing that the market isn’t yet tilted in either direction.

Volume remains modest, with no substantial spikes suggesting strong buying interest. Analysts suggest watching for a decisive breakout above $0.74 to confirm a shift in market sentiment.

Cardano’s immediate support lies at $0.66, followed by a stronger level at $0.62. If the price fails to hold above $0.66, sellers could regain control. Conversely, a breakout above the $0.74 mark on strong volume would likely trigger further upside potential.

While whale activity often drives optimism, technical data suggests patience is needed. Traders are watching closely as ADA hovers near resistance, awaiting a decisive move that will shape its short-term direction.