Cardano (ADA) jumped more than 9% over the past 36–48 hours, breaking past $0.19 for the first time in nearly a month. The move comes as whale addresses accumulated over 240 million ADA in less than a week, pushing total whale holdings to 14.55 billion before a slight retrace. The rally stands out in a broader crypto market that's been sluggish, with Bitcoin and most altcoins showing little movement.
Whale accumulation fuels rally
On-chain data from Santiment, cited by analyst Ali Martinez, shows that whale wallets holding between 1 million and 10 million ADA added roughly 240 million tokens over the past week. That accumulation helped fuel a 22% surge in ADA over the past five days, even as the rest of the market stagnated. Whale holdings briefly hit 14.55 billion before pulling back slightly, but the buying pressure was enough to push the token past the $0.19 resistance level.
Technical setup points higher
Analyst Gerla noted that ADA is 'knocking on the door of a major breakout' at the $0.19–$0.20 resistance zone. He pointed to a bullish RSI divergence and the completion of an inverse head-and-shoulders pattern, which together suggest enough strength to reach $0.30. Another analyst, ZAYK Charts, indicated that a successful surge past the first resistance could lead to a move toward $0.50. Both analysts base their calls on chart patterns rather than fundamentals, but the whale activity adds weight to the technical case.
Broader market context
The broader crypto market has been flat despite geopolitical developments this week. Former President Trump claimed a deal on the Hormuz Strait, while Iran refuted the claim. Typically, such news might move Bitcoin or oil-related tokens, but the market barely reacted. Cardano's move stands out as a rare bright spot in an otherwise quiet session. The question now is whether ADA can hold above $0.19 and break through the $0.19–$0.20 resistance zone. If it does, the technical patterns suggest a run toward $0.30, with some analysts eyeing $0.50. But the broader market's lack of momentum could weigh on the move, and the whale holdings retrace suggests some profit-taking may already be underway.
