🔵 Cardano Sees Major Spike in $1M+ Transactions Is a Big Mo
CoinQuest
Updated at: 8 hours ago
{"content":"🔵 Cardano Sees Major Spike in $1M+ Transactions Is a Big Move Incoming?
Cardano ($ADA ), currently ranked 10th by market cap, has witnessed a sharp rise in large-value transfers as whale presence intensifies.
According to crypto analyst Ali, the ADA network recorded 137+ transfers over $1M in just the last 24 hours a notable sign that heavyweight players are becoming increasingly active.
This uptick in whale movements comes as Cardano regains bullish momentum. From a bottom near $0.50 in June, ADA has climbed over 75% by Friday, hinting at a potential reversal of the prior downtrend.
After three straight green days starting July 15, ADA hit a 20-week high of $0.896, facing resistance. At the time of writing, it had pulled back by 2.7% to $0.816 amid broader profit-taking yet still up 15% over the week.
🔹 Is a breakout near?
Analysts suggest ADA has broken out of a bull flag pattern on the weekly chart and is now holding above both the 50-day and 200-day SMAs turning them into support. The projected target of this breakout is $2.70, which would be over a 200% gain from here.
Whale activity like this can point to accumulation though it may also precede distribution. Either way, the surge in million-dollar moves signals something big might be brewing for Cardano.
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