Recent data shows major cryptocurrency holders have been accumulating significant amounts of Cardano’s ADA token while the price hovers at a critical support level. The patterns emerging on the charts suggest we could be at a pivotal moment for the cryptocurrency.
Ali, a crypto analyst, reports that whales have purchased 240 million ADA tokens in just the past week. This substantial accumulation comes at a time when the token is testing important price levels.
Whales have bought 240 million #Cardano $ADA in the past week!
Go to @SimpleFXcom via my link https://t.co/ChoFIwHYeX, claim all the cash bonuses, and buy like a whale before the pump. pic.twitter.com/VZV4iFvNOj
— Ali (@ali_charts) March 25, 2025
FOUR, another respected voice in crypto spaces, believes Cardano is currently at “defining moments” with strong support between $0.68-0.70. Their analysis suggests a potential reversal that could drive prices toward $1.30, around a 2x move from current levels.
Key Support and Resistance Levels for Cardano Price
Cardano is trading at approximately $0.746, slightly above the key horizontal support zone between $0.68-$0.70. This price level previously functioned as resistance in mid-2023 before flipping to support – typically considered a bullish indicator.
The weekly chart shows a descending triangle or wedge pattern formed by the current support level and a downward diagonal resistance trendline. A breakthrough above this trendline could signal a bullish trend continuation.
Should the current support fail, there’s a major support level around $0.25, which was tested in 2023. This would represent a significant bearish scenario.
Possible Scenarios for ADA Price
Bullish Outlook
If ADA bounces from the $0.70 support and breaks through the descending resistance trendline, we could see the price target the next major resistance around $1.00 before potentially reaching $1.30. Strong trading volume would confirm this movement, demonstrating both momentum and market conviction.
Bearish Possibility
Breaking below the $0.68-$0.70 support could trigger panic selling, potentially driving the price down to retest the $0.25 level – the previous macro bottom. From there, we might see a U-shaped recovery pattern form.
Read Also: These Key Metrics Will Determine Pi Coin’s Success as Community Questions Network’s Direction
Recent trading has shown a notable spike in volume, often signaling a pivot moment where trend changes or continuations are about to occur. Sustained high volume during upward price movement would support the bullish scenario.
We’re currently at a defining moment for Cardano. If ADA maintains the $0.68-$0.70 support level and breaks out of the wedge pattern with substantial volume, the bullish target of $1.30 becomes realistic. However, failure to hold this support could lead to a deeper correction back to $0.25 before any meaningful recovery can begin.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
