Cardano

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A notable decoupling of <a href="https://x.com/santimentfeed/status/1859104552189825401" rel="noopener noreferrer nofollow">Cardano</a> from the altcoin market has been fueled by an increase in whale activity and transaction volume. On-chain data indicates that ADA's transaction volume reached a seven-month high this week at $52.26 billion. At the same time, the quantity of whale transactions — worth more than $100,000 — surpassed 8,900 for the second week in a row, hitting a six-month <a href="https://x.com/santimentfeed/status/1859104552189825401/photo/1" rel="noopener noreferrer nofollow">high</a>.
The ADA breakout momentum is being fueled by these metrics, which highlight an intensifying accumulation phase by large holders. The price chart shows that <a href="https://u.today/ripple-cto-and-cardano-creator-find-common-ground-amid-xrp-and-ada-rally" rel="noopener noreferrer nofollow">ADA</a>'s recent performance has been nothing short of extraordinary. The token, which is now trading at about $0.83, has risen above significant resistance levels. The fact that ADA is getting close to its eight-month high versus Bitcoin — a level not seen since June — makes this move noteworthy. <img src="https://u.today/sites/default/files/inline-images/image_1450.png" data-entity-uuid="be3f1700-d873-4235-8006-57110c9a9f69" data-entity-type="file" alt="ADAUSDT" data-caption="<a href=&quot;https://www.tradingview.com/&quot;>ADA/USDT Chart by TradingView</a>">
In the past during a comparable setup, such increased whale and transactional activity came before a +26% spike in the ADA/BTC pairing. Additionally, the technical indicators show strength. With volumes sharply rising to support the breakout, Cardano has smashed through its moving averages. Despite approaching overbought levels, the rising Relative Strength Index (RSI) indicates that bullish sentiment is still strong and supports the current momentum.
Around $0.56 and $0.44, which could stabilize <a href="https://u.today/major-sign-of-distress-spotted-in-cardano-ada-rally" rel="noopener noreferrer nofollow">ADA</a> in the event of a correction, are important support levels on the downside. These areas have seen a lot of historical activity, making them possible places for buyers to accumulate wealth. A clear break above $0.85 might open the door for a rally toward the psychological barrier of $1.00.
In the near future, such a scenario seems likely given the current on-chain activity and whale interest. In summary, Cardano may continue on its upward trajectory given its recent decoupling and whale activity. Investors should keep a careful eye on transaction volume and whale activity, as these indicators will probably determine ADA's next course of action. If the trend continues, ADA may establish itself as one of the market's best-performing assets. <a href="https://u.today/cardano-ada-whales-wake-up-from-their-sleep-en-masse" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Cardano (ADA) Whales Wake up From Their Sleep En Masse

U_Today

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