Cardano (ADA) Price Prediction: Whales Accumulate 120 Million Tokens in Two Weeks, Big Wallets Hoard for Potential Breakout

As price behavior and whale activity begin to show new patterns, the price of Cardano (ADA) may be undergoing a transformation. According to on-chain data shared by crypto analyst AliCharts, wallets holding between 1 million to 10 million ADA have increased by a total of 120 million ADA over the past two weeks. Interestingly, this buying frenzy occurred while prices remained relatively stable, which often suggests quiet accumulation.

The ADA chart from Santiment shows the relationship between ADA prices and Whale holdings from May to early July. Although prices were on a downward trend in May, Whale holdings actually decreased at the end of June and in July.

ADA price is under pressure, but tends to stabilize

From May 9 to early June, the ADA price fell from around $0.83 to below $0.60. Although the decline was not linear, each small rebound quickly faded, and the overall trend remained bearish.

However, by the end of June, the situation began to change. Prices started to stabilize between $0.57 and $0.59 and began to form what appeared to be a support level.

By early July, the price of ADA rose to about $0.61 but failed to hold onto the gains. As of July 7, its trading price was around $0.586, still above the support level, but has not yet broken through.

ADA Whale activity indicates a shift in sentiment

From mid-May to early June, ADA whales began to sell off, with their holdings decreasing from 5.78 billion ADA to about 5.44 billion.

This sell-off coincides with the decline in ADA prices, which makes sense: decreased demand leads to lower prices. However, this behavior did not continue. Around June 23, Whale holdings hit a low, dropping to 5.43 billion.

After that, the ADA price rose again. In just two weeks, whales put 120 million ADA back into their wallets. This is a significant shift, especially during a period of low price volatility.

ADA price shows a correlation trend with Whale holdings

The most striking aspect here is the timing. Just before ADA attempted to rise above $0.61, the Whale accumulation began.

(Source: X, Santiment)

The situation is usually like this: when the market is still full of uncertainty, large investors will start to buy. If ADA successfully breaks through the range of 0.61 to 0.63 USD and maintains that level, it may open up a stronger trend.

Analyst stock price chart shows accumulation pattern

AliCharts pointed out in a tweet the accumulation of 120 million ADA by a Whale, which has attracted attention in the Crypto Assets community.

This is not just a matter of numbers, but what they might mean. When large wallets enter the market during calm periods, it usually means they foresee something about to happen.

Whether this situation will be realized in the short term depends on the reaction of the ADA price at the current level. But for now, it seems that large Wallet holders are preparing for a potential breakout.