Whales of Cardano ($ADA ) are awakening en masse. In the past, during a comparable setup, such a surge in whale activity and transactions occurred before a jump of +26% in the ADA/BTC pair. Moreover, technical indicators show strength. With a sharp increase in volume supporting the breakthrough, Cardano has broken through its moving averages. Despite approaching overbought levels, the rising Relative Strength Index (RSI) indicates that bullish sentiment is still strong and supports the current momentum.
$0.56 and $0.44, which could stabilize ADA in case of a correction, are important support levels on the downside. These areas have seen a lot of historical activity, making them potential places for buyers to accumulate wealth. A clear breakthrough above $0.85 could open the door for a rally to the psychological barrier at $1.00.
In the near future, such a scenario seems likely, considering the current network activity and whale interest. In summary, Cardano may continue its upward trajectory given its recent split and whale activity.
