Large Cardano holders have significantly expanded their positions over the past five days, reinforcing confidence in ADA’s recent market recovery.
According to data from Santiment, whales accumulated more than 240 million ADA during the period, pushing their combined holdings to around 14.5 billion ADA. The aggressive buying coincided with a 22% surge in Cardano’s price, indicating that major investors capitalized on the rally to strengthen their positions.
ADA Retains Most of Its Recent Gains
Whale accumulation is often regarded as a bullish indicator because it reflects growing confidence among large investors, who typically increase their exposure when they anticipate further upside.
In the meantime, Cardano has delivered a strong performance in recent days, rallying from around $0.16 to nearly $0.19 within a short period. Although the cryptocurrency has pulled back from its recent peak, it continues to hold on to most of those gains.
At press time, ADA trades at $0.1801 after slipping below the $0.19 mark. Even so, the token remains up 13.6% over the past seven days and has gained an additional 1.84% over the last 24 hours.
Meanwhile, trading activity has accelerated alongside the price rally. Cardano’s 24-hour trading volume has climbed 43.03% to $614.05 million, highlighting increased investor participation. ADA also ranks as the 14th-largest cryptocurrency by market cap, with a valuation of roughly $6.75 billion.
Technical Indicators Signal Short-Term Risk
Despite the bullish on-chain accumulation, short-term technical indicators suggest that ADA could face additional downside pressure.
Market analyst GainMuse noted that ADA recently confirmed a bearish wedge breakdown on the 30-minute chart after declining to around $0.1802. The analyst stated that the price has already reached its initial downside target near $0.1791, while rising trading volume during the breakdown indicates that sellers currently maintain control.
According to the analysis, ADA must reclaim the $0.1808 level to invalidate the bearish pattern and restore short-term bullish momentum. Otherwise, continued selling pressure could drive the price toward the next downside target around $0.1747.
The analysis also identifies immediate support near $0.1719, with a stronger support zone around $0.1663 if the decline intensifies. Until ADA climbs back above the broken wedge pattern, bears are expected to retain the short-term advantage despite the continued whale accumulation.
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