Whale Activity Ignites Altcoin Rally: What’s Next for Cardano?

Carmen Brooke Martin
By Carmen Brooke Martin Add a Comment
3 Min Read

The crypto market has gained strong bullish momentum following Donald Trump’s recent election win. While Bitcoin races to new highs, the altcoin market is catching up with strong rallies. Leading the surge is Ethereum, which has set the pace for other coins. Its competitor, Cardano (ADA), has surged by 25% in just three days, breaking past the $0.43 barrier for the first time since July. This impressive rally is largely attributed to increased whale activity. Crypto analyst Abiodun Oladokun weighs in on ADA’s outlook.

Whale Activity Ignites Altcoin Rally: What’s Next for Cardano? = The Bit Journal

Strong Demand for ADA

Data from Santiment reveals a recent spike in Cardano whale activity. According to the on-chain data provider, the number of transactions exceeding $100,000 has surged in recent days. On Thursday alone, 697 of these high-value transactions occurred, marking the highest single-day activity since September 5. This increase often signals heightened interest from key market players.

Whale Activity Ignites Altcoin Rally: What’s Next for Cardano? = The Bit Journal

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Large transactions suggest that major investors are gaining confidence in ADA’s potential, likely buying in anticipation of a price increase driven by broader market trends. When whales accumulate, it often triggers increased demand from other market participants. This trend aligns with a 139% weekly increase in ADA’s holding duration, which tracks the average length of time investors hold their tokens without selling or exchanging. The rising holding duration generally indicates a bullish outlook, with investors expressing confidence in ADA’s near-term growth potential.Whale Activity Ignites Altcoin Rally: What’s Next for Cardano? = The Bit Journal

ADA Price Forecast: Key Levels to Watch

Cardano is currently trading at $0.43, having successfully broken past the critical resistance level of $0.40—a level it had previously struggled to sustain under intense selling pressure. If the current bullish trend continues, the $0.40 level is expected to form a solid support base, potentially driving ADA to the $0.47 mark, a price last seen in June.Whale Activity Ignites Altcoin Rally: What’s Next for Cardano? = The Bit Journal

However, if ADA fails to hold the $0.40 support and a retest is unsuccessful, the price could drop to $0.31, which would invalidate short-term upside momentum.

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Disclaimer

The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.

You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.

Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.

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Financial Writer Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry.What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content.As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.
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