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<p>Cardano (ADA) has made a wild move in the past few days and has gained notable attention from crypto enthusiasts, including whales and traders. Besides a significant upside rally in the past few days, the market sentiment suggests that this rally is poised to continue as Cardano’s ADA has room to soar.</p>   
<h2 class="wp-block-heading" id="h-whales-and-traders-drive-ada-s-momentum"><strong>Whales and Traders Drive ADA’s Momentum</strong></h2>   
<p>This strong bullish outlook for ADA is likely driven by positive market sentiment, significant participation from traders and investors, and a favorable price action pattern.</p>   
<p>Recent data from on-chain analytics firms Coinglass and IntoTheBlock report significant participation from traders and whales.</p>   
<h3 class="wp-block-heading" id="h-cardano-whales-recent-accumulation"><strong>Cardano Whales Recent Accumulation</strong></h3>   
<p>According to data from <a href="https://app.intotheblock.com/coin/ADA/deep-dive?group=network&amp;chart=transactions">IntoTheBlock</a>, Cardano whales holding $10 million worth of ADA tokens have increased their positions by 419.68%, with a 267% increase in the past week. This notable participation suggests a potential upside rally in the coming days and presents a perfect buying opportunity.</p>   
<figure class="wp-block-image aligncenter size-large is-resized">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/11/24031737/image-191-1024x369.png" alt="" class="wp-image-384430" style="width: 100%;height:auto">
 <figcaption class="wp-element-caption">
  Source: IntoTheBlock
 </figcaption>
</figure>   
<h3 class="wp-block-heading" id="h-rising-open-interest-nbsp"><strong>Rising Open Interest&nbsp;</strong></h3>   
<p>Meanwhile, ADA’s Open Interest (OI) has surged by 9.8% to $930 million, highlighting how traders are capitalizing on the current price action and market conditions, resulting in a rise in open positions.</p>   
<figure class="wp-block-image aligncenter size-large is-resized">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/11/24031920/image-193.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/24031920/image-193-1024x358.png" alt="" class="wp-image-384431" style="width: 100%;height:auto"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>   
<h2 class="wp-block-heading" id="h-cardano-ada-technical-analysis-and-upcoming-levels"><strong>Cardano (ADA) Technical Analysis and Upcoming Levels</strong></h2>   
<p>According to expert technical analysis, ADA recently broke out from a strong resistance level at $1. Since then, it has been consolidating within a tight range between $1.02 and $1.10.The recent price action suggests that whenever ADA consolidates and subsequently breaks out, it tends to rally significantly.</p>   
<figure class="wp-block-image size-large">
 <a href="https://image.coinpedia.org/wp-content/uploads/2024/11/24031633/ADAUSDT_2024-11-24_03-16-22.png"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/24031633/ADAUSDT_2024-11-24_03-16-22-1024x448.png" alt="" class="wp-image-384429"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>   
<p>Based on historical price momentum, if ADA breaks out of this consolidation zone and closes a four-hour candle above $1.14, there is a strong possibility it could soar by 30% to reach the $1.50 level in the near future. This time, however, experts anticipate a similar rally in the coming days.&nbsp;</p>   
<h3 class="wp-block-heading" id="h-current-price-momentum-nbsp"><strong>Current Price Momentum&nbsp;</strong></h3>   
<p>At press time, ADA is trading near $1.06 and has registered a price gain of over 9.5% in the past 24 hours. During the same period, its trading volume jumped 30%, indicating heightened participation from traders and investors compared to the previous day.</p>

Cardano Whales Holding $10M ADA Grow Positions by 420%, Time to Buy?

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