Cardano ADA Eyes $0.91 as Whales Drive Accumulation Amid Bullish Signals

Cardano (ADA) is showing signs of a strong recovery after breaking out of a prolonged downtrend, with its price stabilizing around $0.61 and reclaiming a crucial support level at $0.59. This resurgence has sparked Optimism among both institutional and retail investors, as spot taker CVD data indicates sustained buying pressure over the past 90 days. Analysts suggest that this bullish momentum could propel ADA toward the $0.91 target, provided the current support holds. Whale accumulation and positive market sentiment are key drivers behind this potential upward trajectory, though sustainability will depend on broader market conditions and continued demand.

Cardano Eyes $0.91 as Whales Accumulate ADA

Cardano has emerged from a prolonged slump, reclaiming a key support level NEAR $0.59 after weeks of selling pressure. Trading around $0.61, ADA shows growing optimism among both institutional and retail investors. The current setup could serve as a launchpad for upward movement, though sustainability hinges on multiple factors.

Spot taker CVD data reveals a bullish signal: over the past 90 days, buy orders executed at the ask price have consistently outpaced sell orders. This underlying momentum suggests ADA may soon test resistance at $0.67. A daily close above this level could shift sentiment decisively, paving the way for a rally toward $0.83–$0.91.

Whale activity reinforces the bullish case. On July 4, on-chain data showed a net outflow of $2.33 million worth of ADA from centralized exchanges—a sign of accumulation rather than liquidation. Persistent exchange withdrawals typically reduce sell-side pressure, supporting price stability and potential upside.

Cardano (ADA) at Make-or-Break Level: Potential Breakout Targets $1.20

Cardano's ADA is testing a critical demand zone between $0.55 and $0.60, showing early signs of strength after a prolonged downtrend. A weekly chart analysis reveals a bullish divergence, with momentum indicators hinting at a potential trend reversal.

The altcoin faces a decisive resistance band between $0.80 and $1.00—a breakout above this level could confirm the end of bearish dominance and propel ADA toward $1.20. The descending channel pattern since early 2024 now approaches its inflection point, with supply dynamics drawing comparisons to Bitcoin's historical issuance cycles.

Cardano Hits 111 Million Transactions: Is ADA Gearing Up for Its Next Big Rally?

Cardano has surpassed 111 million transactions, a significant milestone underscoring its growing adoption and network resilience. The blockchain now supports 2,005 active projects, with 1.33 million delegated wallets reflecting robust staking participation. Smart contract development is accelerating, marked by 138,996 Plutus scripts and 7,682 Aiken scripts deployed.

On-chain governance is gaining traction, with 1,377 DReps registered and 976 actively participating. Developer engagement remains strong, reinforcing Cardano's position as a scalable and secure platform for long-term growth.

Cardano Holds Steady Support As $0.61 Milestone Fuels Bullish Outlook

Cardano (ADA) trades at $0.5782 with a 24-hour volume of $566.7 million, demonstrating resilience above the $0.55 support level. Analysts anticipate a breakout above $0.67, with Fibonacci extensions pointing to targets between $0.83 and $0.91.

Historical performance echoes potential—ADA surged 2,300% in 2020. Current bullish sentiment sits at 94%, bolstered by consistent buying volume and a descending channel pattern noted by analyst Ali Martinez. A daily close above $0.61 could accelerate gains, contingent on broader altcoin market strength.