Cardano Whales Scoop Up 70 Milion ADA, $1.13 Next?
Cardano blockchain’s local token Ada seems to be optimistic, as whales and institutions have begun to accumulate tokens, potentially suggesting an upcoming rally. Today, on February 13, 2025, a well-known crypto expert shared an article on X (formerly Twitter) and noted that crypto whales have moved from exchanges over the past four trading days 70 million ADA tokens.
https://twitter.com/ali_charts/status/1890019592590012762
Whale and investors bet on ADA
The massive withdrawal of this token is accompanied by rising asset prices. TradingView data suggests that ADA witnessed a significant 20% rise rally, suggesting that the accumulation of ADA tokens for crypto whales may be driving recent gains.
In addition, investors and long-term holders are accumulating tokens as Chain Analytics reports Small shop. Data from spot inflows/outflows suggests that the exchange has witnessed the outflow of $11.75 million worth of ADA tokens over the past 48 hours, suggesting that potential accumulation could create buying pressure and further gains.
However, the market has witnessed this outflow as the ADA approaches a critical resistance level of $0.85.
The main liquidation level of ADA
In addition, day traders are also bullish. Data shows that traders’ bets are much higher than short-side bets in the long run.
At press time, the lower main liquidation level was $0.76, where traders holding long-term positions believed that the price of ADA would not be below this level and had established a long position worth $8.75 million. Meanwhile, bearish traders have a high leverage of $0.796, where they hold short positions worth $6.75 million.
If the price moves in any direction, these liquidation levels will be triggered.
Cardano (ADA) technical analysis and upcoming levels
According to expert technical analysis, the ADA seems bullish, but is currently facing mild resistance, posing obstacles to asset soaring. According to recent price action and historical patterns, if the ADA successfully violates resistance levels and closes the daily candle above $0.85, it could increase its pace by 33% in the future, about to reach $1.13 in the future.
ADA is currently trading at close to $0.789, experiencing a price increase of more than 2.35% in the past 24 hours. However, during the same period, its trading volume fell by 40%, with traders and investors lower participation rates compared to the previous day.
