- Whales accumulated 70 million ADA, showing increased investor confidence.
- Cardano’s ADA re-listing on NASDAQ ETF fuels institutional interest and growth.
- Technical analysis suggests ADA could break resistance, driving price higher
Cardano ($ADA) has experienced a notable surge in whale buying activity over the past week, with whales accumulating approximately 70 million ADA tokens. According to Ali Martinez, this surge in large transactions coincides with Cardano’s price fluctuations, suggesting that larger investors are positioning themselves for potential future growth.
Alongside this surge in whale purchases, a notable shift in market sentiment has occurred. Positive sentiment is rising, correlating with the increase in whale activity.
Experts believe this could be a precursor to bullish momentum if the buying pressure continues. This trend suggests that whales may be preparing for a potential breakout, as they anticipate a rise in ADA’s value in the near future.
Cardano Re-lists on NASDAQ Crypto Index U.S. ETF
Cardano, $ADA has officially been re-listed on the Hashdex NASDAQ Crypto Index U.S. ETF. The token was previously removed from the index due to regulatory concerns but has now been reinstated, which is seen as a sign of growing institutional interest in Cardano.
This re-listing could open the door for more institutional investors to gain exposure to Cardano, potentially leading to increased demand for ADA. Some experts even speculate that a dedicated Cardano ETF could be launched next, which would further boost ADA’s market presence.
ADA Approaches Key Resistance: Breakout Potential
Technical analysis from crypto analysts indicates a critical resistance level for Cardano at approximately $0.865. The ADA/USD pair has recently approached this level, and experts believe a breakout could occur if the price surpasses this resistance.
The Relative Strength Index (RSI) for ADA is also showing signs of building momentum, indicating that more buying interest is entering the market.
Additionally, volume data indicates growing investor activity, which could help push the price past the key resistance level. If Cardano breaks through this level, analysts expect a significant price surge, which could attract further attention from traders and investors alike.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
