Cardano Set to Surge Higher as Whales and Institutions Accumulate ADA
Are you ready for some exciting news about Cardano (ADA)? According to a well-known crypto analyst, this layer-1 blockchain is gearing up for a big price surge! Ali Martinez, a digital asset trader with a large following on social media, has pointed out that whales and institutional players are not just dipping their toes into the waters of Cardano but diving in headfirst.
Martinez reports that the volume of large Cardano ADA transactions has skyrocketed to over $22 billion per day. What’s more, whales holding significant amounts of ADA, ranging from $1 million to over $10 million, have been increasing their positions by more than 100% in the last month. This surge in buying pressure is driving up prices, and from a technical standpoint, Cardano is showing signs of mimicking its previous bullish cycle. If history repeats itself, ADA could hit a target of $6!
But, as with any investment, there are key levels of support that need to be maintained. In Cardano’s case, the crucial area to watch is at $0.80, where 48,000 addresses have bought nearly 1.20 billion ADA. As of now, ADA is trading at $1.06, up over 24% in the last 24 hours, more than 48% in the past week, and nearly 200% in the last month.
Exciting stuff, right? Keep an eye on Cardano as it continues its upward trajectory!
