Cardano Whales Accumulate 420 Million ADA Despite Price Failing to Break Out

Cardano (ADA) has recently struggled to overcome an important barrier despite support from large investors and improving market conditions.

ADA's price remains below key resistance levels, but with whales accumulating large amounts of ADA, the potential breakthrough of this altcoin seems promising. If market conditions continue to improve, Cardano may witness a positive change in price momentum.

Cardano Whales Are Optimistic

Whale activity was very strong in April, with addresses holding 10 million to 100 million ADA purchasing over 420 million ADA, valued at approximately $289 million, raising their total ADA holdings from 12.47 billion to 12.89 billion ADA. This continuous accumulation by the largest Cardano holders is an important indicator of confidence.

Ales a crucial role in potential inility ADA's potential price movements, and their continued accumulation suggests they believe in the term value of this asset. Large-scale accumulation can help change market sentiment in a positive direction. As the most influential ADA holders strengthen their positions, the likelihood of a price surge increases.

Cardano's overall momentum is showing signs of improvement, especially with technical indicators like the Relative Strength Index (RSI). Currently, the RSI is at its highest level in nearly two months and sits in a positive zone above the neutral 50.0 level. This indicates that upward price momentum is increasing, driven by both ADA whale accumulation and broader market conditions.

Improving marketket conditions and a strong RSI suggest thatAnoArdano's price may soon experience a significant increase. price. This technical strength, by activity, creates the premise for ADA to overcome important resistance levels, potentially leading to broader acceptance and price appreciation.Cardano RSI. Source: TradingView< h2>ADA Price Aims for2>

>'s price is $0.69, just below the $00.cardano USD support level it maintained earlier this week. Thecdeclined after failing to break through the $0.74 resistance. The inability to surpass this level has kept ADA in narrow range although a breakthrough remains possible if the market continues to improve.

The $0.74 resistance has been an important barrier for ADA for over five weeks. However With whales continuing to accumulate and macro indicators showing strength, Cardano may soon break through $$0.74 and potentially rise to to $0.80. A breakthrough above of $0would signal the beginning of a more sustainable upward trend.