The Cardano price prediction (ADA) is gaining strong bullish momentum this week. Key data from the analytics platform Santiment reveals that the behavior of large investors, or “whales,” and a decrease in selling pressure are setting a favorable stage. This outlook could push the price of ADA towards new highs in the short term, generating significant market expectation.
The hard data shows two significant movements. First, a massive accumulation of tokens by whales has been recorded. In just 48 hours, these large holders added over 200 million ADA to their wallets, equivalent to approximately $140 million. This type of strategic accumulation is often interpreted as a strong signal of confidence in the asset’s future appreciation.
On the other hand, the Spent Coins Age Band (SCAB) metric indicates a notable reduction in selling activity. Specifically, the total volume of spent coins plummeted by 51% since October 12. This suggests that long-term holders are choosing to maintain their positions, thereby reducing selling pressure in the market and facilitating a potential upward price movement.
A Promising Future on the Horizon
This scenario is relevant because the combination of high demand from large capital and low available supply for sale creates a positive imbalance. Historically, these patterns have preceded significant price rallies for various cryptocurrencies. For Cardano, this milestone represents a potential consolidation of its current uptrend after finding solid support near the $0.61 level.
The impact of these indicators is direct on the Cardano price prediction. If the cryptocurrency manages to break through and stay above the next resistance zone at $0.86, the path would be clear for more ambitious targets. Technical analysts note that the price is moving within an ascending channel, a pattern considered bullish in the Blockchain. The market’s reaction will depend on ADA successfully breaking that key barrier. A successful breakout could validate the bullish thesis and encourage new investors.
The current situation places Cardano at a crucial turning point. As long as the asset remains above the critical support of $0.61, the bullish setup will remain intact. Investors will be watching to see if the buying pressure from whales is strong enough to push the price through the $0.86 resistance. Surpassing this level would not only confirm the trend but also open the door to potential targets at $1.01 and $1.12, marking a new chapter for ADA’s market performance.
