Cardano (ADA) has climbed over 15% in the past week, continuing to push higher despite a 27% drop in trading volume over the last 24 hours. While momentum indicators and whale activity still lean bullish, signs of consolidation are emerging as ADA trades near key support and resistance levels.
Whether ADA breaks higher or pulls back may depend on how it reacts to the critical $0.668–$0.709 range in the coming days.
Is Cardano’s Rally Losing Steam or Just Catching Its Breath?
Cardano Average Directional Index (ADX) is currently at 30.17, easing slightly from yesterday’s 32.76 after a sharp surge from 14.90 two days ago.
This rapid climb signals a strengthening trend that has recently stabilized, with Cardano community challenging Charles Hoskinson on roadmap promises.
Despite the minor pullback in ADX, ADA remains firmly in an uptrend, indicating that bullish momentum is still present, though perhaps cooling slightly after an intense acceleration.
The ADX is a trend strength indicator that ranges from 0 to 100. It does not indicate direction—only the strength of a trend. Readings below 20 suggest a weak or non-existent trend, while values above 25 typically confirm a strong trend.
ADA’s current ADX at 30.17 reflects a healthy uptrend still in play, although the slight dip may suggest the trend’s momentum is stabilizing rather than accelerating.
As long as ADA maintains this level, the uptrend remains intact, but traders should watch for any further decline in ADX that could hint at waning strength.
Cardano Whales Return—Is Accumulation Back On?
The number of Cardano whale addresses—wallets holding between 1 million and 10 million ADA—has slightly increased to 2,408, up from 2,405 on April 22.
This follows a brief decline from 2,421 on April 20, suggesting a small but notable return of larger holders after a short distribution period.
While the change may seem minimal, it marks a potential shift in sentiment among high-stake investors, who often play a key role in driving price trends due to the sheer volume of assets they control.
Tracking whale activity is crucial because these large holders can significantly influence the market. When whales accumulate, it’s often viewed as a sign of confidence and can act as a leading indicator of upward price movement.
Conversely, when whales begin to offload their holdings, it may signal weakening conviction or an expectation of short-term price drops.
The recent uptick from 2,405 to 2,408 may indicate a renewed interest among whales in accumulating ADA, hinting at a possible rebound or continued strength in price—especially if this trend continues.
ADA’s Uptrend Holds, But Key Support Must Survive
According to its EMA lines, Cardano price remains in an uptrend, with short-term moving averages still above the long-term ones—a classic sign of sustained bullish momentum.
This alignment suggests the broader trend favors the bulls despite recent price consolidation.
However, ADA is trading within a tight range, facing resistance at $0.709 and supported at $0.668, setting the stage for a potential breakout or breakdown.
If the $0.668 support is tested and fails, ADA could decline toward the next support level at $0.634, and a deeper slide might push it down to $0.59, marking a more significant correction.
Conversely, a clean break above $0.709 resistance would likely trigger renewed bullish momentum, with the next upside target around $0.77.
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