Cardano whales have been on a buying spree, accumulating over 240 million ADA tokens in just five days, according to analyst Ali Martinez. The buying pressure pushed ADA to a monthly peak around $0.19, with the token up 13% over the past week. Some analysts see room for much bigger gains — Javon Marks predicts ADA could hit $2.90 if the 2020-2021 pattern repeats, a potential 1,300% jump from current levels.
Whale accumulation in five days
The 240 million ADA scoop — worth roughly $45 million at current prices — is the kind of concentrated buying that often precedes a sustained rally. Martinez flagged the accumulation on social media, noting the speed of the purchases. Whales aren't usually wrong about timing, but the broader crypto market remains unfriendly, and bears could step in at any moment.
Technical breakout and support
Analyst Leon Voss Official pointed out that ADA broke above a long-term descending trendline, a pattern that often signals a trend reversal. He pegged support at $0.17, a level that held during the recent pullback. On-chain data backs the bullish case: Cardano's total value locked surged 9% to nearly $68 million, showing growing DeFi activity on the network.
The $0.22 zone and RSI
Trader Crypto Tony is watching the $0.22 zone closely. He said he'll look for a short position if the rally gets rejected there, or go long if price flips that level into support. The Relative Strength Index briefly spiked above 80 — deep into overbought territory — before easing to 65. That's still near overbought, and a short-term correction wouldn't be surprising. A pullback to $0.17 would test the new support zone.
Bears lurking
The broader crypto market isn't doing ADA any favors. Bitcoin and Ethereum have been choppy, and altcoins often follow. Bears could regain control quickly, erasing the recent gains. For now, all eyes are on whether ADA can hold above $0.17 support and eventually flip the $0.22 resistance zone.
