Cardano Price Prediction: Whale Buying Spree Fuels Bullish Surge!

Cardano News: What's Next For Cardano (ADA) After Grayscale ETF Filing

ADA Defies Market Downturn with a 16% Surge

Over the past three days, Cardano (ADA) has surged more than 16%, defying the broader cryptocurrency market slump that saw the total crypto market capitalization drop by 1.22% in just 24 hours. This strong momentum is being driven by increased whale accumulation, growing institutional interest, and Grayscale’s spot ADA ETF filing—a potential game-changer for Cardano’s future.

Whale Accumulation Signals Bullish Momentum

According to Santiment, Large-scale investors, often referred to as whales and sharks, have been accumulating ADA at an impressive rate. Since late November 2023, wallets holding at least 1 million ADA have added 1.41 billion more coins, representing 2.35% of the total supply. This consistent accumulation has fueled ADA’s growth, pushing its price up by +107% during this cycle.

This trend suggests that Big-money investors are betting on ADA’s long-term potential, setting the stage for potential future gains. The real question is—how high can ADA go in the coming weeks and months?

Technical Analysis: ADA’s Key Resistance and Breakout Levels

Short-Term Outlook

For over two months, ADA has followed a falling wedge pattern—a classic bullish signal. If it breaks out, prices could jump higher. Analysts suggest that once ADA breaks out of this wedge, it could see a pump up to $1.23.

The daily time frame chart shows that the ADA price has fallen inside a descending parallel channel. However, ADA has struggled to break past the $1.10 resistance level since mid-November 2024, leading to short-term corrections. The current support range between $0.68 and $0.76 remains crucial for ADA’s next move.

Medium-Term Forecast

A breakout above $0.85 would confirm a bullish trend reversal, increasing the likelihood of ADA reaching $1.75. Crypto analysts like Ali Martinez believe that if the current momentum holds, ADA could climb to $0.83 in the short term.

Similarly, analyst Javon Marks predicts an astonishing +540% surge, which could see ADA soaring to $5.35 in the long run. While such an exponential rise may take time, the increasing adoption of Cardano’s smart contract capabilities could make it possible.

Grayscale’s ADA ETF Filing: A Catalyst for Future Growth

The recent news of Grayscale filing for a spot ADA ETF has further fueled bullish sentiment around Cardano. ETFs provide an easy gateway for institutional investors to gain exposure to cryptocurrencies, leading to increased demand and price appreciation.

With the SEC’s recent approvals of Bitcoin ETFs, the possibility of an ADA ETF approval in the future could significantly impact its valuation, making Cardano a strong contender for long-term investment.

Conclusion: Can ADA Reach $1.75 or Beyond?

ADA’s recent price surge, whale accumulation, and institutional interest point towards a strong upward trajectory. If ADA successfully breaks the $0.85 resistance, a rally to $1.75 could be imminent. In the longer term, should adoption and institutional backing continue to grow, a push toward $5.35+ might not be out of reach.

Key Levels to Watch:

• Support Range: $0.68 - $0.76

• Short-Term Target: $0.83 - $1.23

• Breakout Level: $0.85

• Medium-Term Target: $1.75

• Long-Term Projection: $5.35+

Investors should keep a close eye on ADA’s technical structure, whale activity, and regulatory developments as the crypto market continues to evolve.