‘ADA Wave Is Coming’: Cardano Whales Go On Buying Spree As Price Attempts Breakout
Cardano (ADA) began the year by recovering the $1 support zone, reaching weekly highs and attracting whale investors. In November, ADA surged to $1 but faced a significant retracement in December, dropping below $0.8. Whales capitalized on this pullback, acquiring 160 million ADA at discounted prices. Despite some bearish sentiment, ADA rallied 27% in the first week of the year, reclaiming the $1 mark by January 3 and fluctuating between $1.05 and $1.11 since then. Analysts noted whale activity, with over 10 million ADA purchased in 24 hours. ADA attempted to break a bullish pattern at the $1.15 resistance level but faced a setback as Bitcoin dropped 4%, causing ADA to fall to $1.02 before recovering slightly. Currently, ADA trades at $1.03, reflecting a 5.8% decrease in the last 24 hours.
