Cardano climbed 4% in 24 hours, pushing its monthly gain to roughly 12%. An analyst points to higher lows and a defended demand zone as signs the sell-off is giving way to accumulation, while whale holdings have reached their highest level since February 2023.
Cardano rose 4% over the past 24 hours, climbing from around $0.164 to above $0.17 after a choppy start to the week. The move has pushed ADA's monthly gain to roughly 12%.
Pseudonymous analyst The Boss said ADA may be shifting from panic-driven selling toward a more constructive accumulation phase after an aggressive sell-off, pointing to higher lows in recent sessions rather than new breakdowns. According to the analyst, buyers have continued to defend a demand zone between $0.1064 and $0.1503, while a short-term ascending trendline keeps the recovery structure intact.
The token is also compressing below overhead resistance, which The Boss said points to the market searching for its next directional move rather than extending the earlier decline. Holding current support and maintaining higher lows would strengthen the accumulation narrative, according to the analysis.
Whale activity has picked up as well. CryptoPotato previously reported that large ADA holders raised their combined stake to 25.6 billion tokens, nearly 70% of the circulating supply — the highest level since February 2023. Retail exposure declined over the same stretch, a mix Santiment said could support the asset.
Meanwhile, analyst Ali Martinez found that whales accumulated 30 million ADA, worth more than $5 million, over the previous month.
Source: CryptoPotato
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