Accumulating ADA in Preparation for Liftoff ?
The whales of Cardano recently underwent one of the most significant buying phases of this quarter, accumulating over 120 million ADA tokens in just 48 hours. This massive accumulation comes as the asset’s price has remained relatively stable, between $0.61 and $0.72, indicating strong confidence among large holders.
Data shows that ADA whales have accumulated a significant amount of tokens, suggesting that institutions or wealthy investors may be preparing for a medium-term strategic move. This hypothesis is supported by several encouraging indicators :
- Taker buy dominance : A strong emergence in the futures market, confirming aggressive buying.
- 90-day CVD : A positive indicator, reflecting sustained bullish pressure.
- Funding rate : Turning positive, a sign of increasing confidence in the upside potential.
- Liquidations : A sharp increase in short position liquidations, indicating upward pressure.
A Sustainable Rally on the Horizon ?
While the price of Cardano approaches the upper limit of a long-term wedge pattern, the accumulation, liquidations, and positive momentum could propel ADA towards a potential bullish breakout. However, caution is advised until this breakout is confirmed.
The 4H FBB shows a potential target at $0.91 if BTC continues to track M2 liquidity and hits a new ATH between $114 and $116,000 in the coming days.
ADA could potentially see a 30% increase in the next few days. The tightening of the daily Bollinger confirms this strong upcoming move, hence the silent accumulation by whales.
Furthermore, ADA broke a strong support at $0.64 on June 5th, providing additional bullish confluence. The key resistance to overcome remains at $0.75, representing a POC and an area where sellers could hinder the push. A breakthrough of this level with volume could trigger a sharp rise.
In conclusion, the accumulation of 120 million ADA tokens by whales is accompanied by very promising indicators, such as Taker buy dominance and positive funding rates. This could signal the start of a more sustained bullish trend if the momentum holds. Keep a close watch !
How to Buy ADA on Bitget ?
- Create your account : Sign up on Bitget through their website or mobile app to invest in ADA.
- Secure your profile with KYC : Complete KYC verification, compliant with GDPR and AMF in 2025.
- Deposit funds : Add fiat currencies (EUR) or cryptos (USDT, BTC) to your wallet.
- Buy : Access the spot market, select the ADA/USDT pair, and place your purchase order.
