Cardano (ADA) is once again coming into focus for cryptocurrency analysts following reports of significant accumulation by major investors. Over 120 million ADA have been purchased in the last two weeks.
Signals of Increasing Confidence from Major Players
According to analyst Ali, the recent purchases of ADA indicate a shift in investor sentiment. Major holders are accumulating assets even amid current price consolidation, which may signal their confidence in ADA's long-term value.
Technical Setup Points to Potential Breakout
Technically, ADA is trading in a narrow range between $0.66 and $0.74. Analysts note that a breakout above $0.70 could pave the way for moves to $0.83 and $0.91.
Ecosystem Growth May Stimulate Demand
The expansion of the Cardano ecosystem, including projects like Cardinal, is attracting the attention of large investors. Optimism surrounding a potential ETF for Cardano could also be contributing to strategic accumulation.
Despite strong resistance at key levels, the recent accumulation by major players may signify a new phase for the Cardano market. Monitoring prices and whale activity may be crucial.
