The crypto markets are buzzing, and Cardano (ADA) is no exception. After a choppy few months, ADA is flashing bullish signals that have traders and investors paying close attention. Could the return of big buyers and a strong technical setup send Cardano soaring soon?
Cardano Price Action and Whale Activity
On April 23, 2025, Cardano climbed to an intraday high of $0.715 — its highest point since March 28 — rallying roughly 40% off this month’s lows. The rebound wasn’t isolated either. Stocks and crypto markets moved higher together after President Trump signaled a softer stance on Federal Reserve leadership and trade negotiations with China.
Data from Santiment reveals that whales holding between 10 million and 100 million ADA have steadily increased their stakes. Their share of the total Cardano supply rose from 33.4% in January to 36% today, suggesting that major players are positioning for a longer-term upside.
Adding to the bullish case, over 24.5 billion ADA tokens are now held in profit, compared to 19.5 billion just a few weeks ago. This growing base of profitable holders could strengthen sentiment and encourage further accumulation.
Technical Setup: Double Bottom Breakout?
From a technical standpoint, ADA’s recent moves are encouraging:
- Double Bottom Formation: Cardano has completed a classic double-bottom pattern around the $0.512 mark, echoing its February lows. The neckline stands near $1.173.
- Breakout from Falling Wedge: ADA has also pushed above the upper boundary of a falling wedge, a pattern often preceding major upward moves.
- Key Levels: Cardano is trading above its 50-day Exponential Moving Average and has crossed the crucial 61.8% Fibonacci Retracement level.
The Relative Strength Index (RSI) is also ticking higher, suggesting growing bullish momentum without reaching overbought conditions yet.
What’s Next for Cardano (ADA)?
If momentum persists, ADA could aim for the $1 resistance level — around 43% higher from current levels. However, the broader market sentiment tied to Bitcoin’s trajectory and ongoing trade war developments could heavily influence Cardano’s short-term path.
With whales quietly accumulating and technical indicators aligning bullishly, Cardano’s outlook for the rest of April 2025 looks promising. A push toward $1 seems plausible, but traders should keep an eye on external market factors that could sway crypto sentiment.
