Cardano Whales Load Up With $161M Buying Spree—But This Support Level Determines ‘Wen $1 ADA’ ⋆ ZyCrypto

Cardano (ADA) traded muted on Thursday, as elevated liquidity reflected a balanced interplay between buyers and sellers. 

Notably, over the past week, ADA has remained range-bound, hovering between $0.22 and $0.29, and has repeatedly struggled to break through key resistance levels. Intraday swings have stayed limited, highlighting the token’s sideways momentum.

Despite this consolidation, ADA showed notable resilience over the week, posting gains of nearly 6% and outpacing several larger-cap digital assets. This recovery comes amid renewed interest in the asset at its currently attractive valuations, particularly from larger investors.

In a tweet on Tuesday, popular analyst Ali Charts highlighted $0.244 as the most critical support level for ADA, noting that holding above this zone preserves the token’s bullish structure and increases the likelihood of a move toward higher resistance levels.

The analyst also revealed that whales have accumulated 210 million ADA over the past three weeks, signaling strong institutional interest.

Notably, these aggressive purchases have gained momentum recently, with Santiment recently reporting that over the past two months, addresses holding between 100,000 and 100 million ADA have collectively added roughly 454.7 million ADA, valued at approximately $161.4 million at current prices.

Meanwhile, analysts are also predicting higher prices for the cryptocurrency. According to analyst Sssebi, he suggested the recent dip may be remembered as a rare long-term opportunity. The pundit argued that if a broader bull cycle emerges from current levels, ADA could deliver outsized returns relative to its present valuation.

Additionally, according to analyst Bitsofwealth, he projected a potential extension toward $0.50 and possibly even $1 under a strong bullish scenario. However, while such targets remain speculative, the forecast reflects a growing appetite for upside narratives as sentiment stabilizes across the crypto sector.

However, analyst Columbus noted that ADA’s recent gains resemble “a textbook ABC corrective move,” adding that if the C wave is complete, the short-term rally could give way to further weakness.

He cautioned that while the bounce appears strong, “it may represent a corrective bounce rather than the start of a sustained uptrend,” advising traders to watch for lower-timeframe rollovers near resistance. 

If the structure holds, he noted further, momentum could push toward the next psychological levels. If not, volatility may return quickly, especially as whales continue accumulating.

At press time, ADA was trading at $0.27, down 0.60% over the past 24 hours.