Cardano (ADA) saw massive accumulation from large holders in April even as prices swung sharply throughout the month. According to crypto analyst Ali, whales bought over 410 million ADA, signaling strong interest from big players despite the broader market’s caution.
The buying activity came during a volatile month for Cardano. Prices initially surged to $1.19 following reports of a planned strategic crypto reserve, sparking optimism across the market. That optimism was short-lived as the price later dropped to a low of $0.6247, reflecting investor uncertainty driven by global economic concerns.
Despite the sharp fluctuations, Cardano ended April with a modest 4.6 percent gain. Whales took advantage of the price dips, quietly increasing their holdings. Their accumulation suggests a belief in ADA’s potential for a strong rebound once market conditions stabilize.
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Cardano Battles Key Resistance as Bulls Target Breakout
ADA’s price action in the final weeks of April showed a tightening range between the 50-day SMA at $0.673 and the 200-day SMA at $0.773. Since April 25, the price has consolidated further as bulls and bears fight for control. This consolidation points to an upcoming breakout.
Bulls will gain control when ADA exceeds $0.75 while crossing the 200-day Simple Moving Average. A successful upward breach of $0.83 might initiate additional resistance until the next target at $0.83. The successful breach of current price levels at $1 will create a possible entry point for $1 within the near future.
However, if ADA breaks below the 50-day SMA, the advantage shifts to sellers. The price could then decline toward $0.58, where buyers may step in again. Markets feel uncertain tension between bullish and bearish forces even though massive crypto investors show signs of setting up for an upward price movement.
Whales typically make this strategic investment decision at times of market volatility. The whales display increasing determination to break through pricing barriers after recent technical resistance levels are overcome.
Conclusion
Cardano faced heavy volatility in April, but the accumulation of 410 million ADA by whales has fueled speculation of a coming breakout. As prices hold within key moving averages, the market now waits to see if bullish momentum will carry ADA higher in the days ahead.
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