Cardano Price Poised for $1 Comeback as Whales Gobble Up 210M ADA

Whales are making waves in the Cardano ecosystem—snapping up a staggering 210 million ADA tokens in recent moves. This massive accumulation signals big money betting on a rebound.

The Whale Effect

When crypto titans move, markets notice. Their 210 million ADA buying spree creates instant demand pressure—potentially catapulting Cardano past the psychological $1 barrier. Retail traders watch these moves like hawks, often riding whale waves toward profit.

Technical Breakout Territory

Cardano's chart shows consolidation near make-or-break levels. Breaking $1 requires sustained volume—exactly what whale activity provides. Past resistance zones become targets, and liquidity pools above key levels attract algorithmic traders.

Market Mechanics at Play

Whale accumulation often precedes major announcements or staking maneuvers. With Cardano's development activity consistently high, large holders might anticipate network upgrades or partnership news retail hasn't glimpsed yet—because nothing moves markets like asymmetric information, right?

The Road to Recovery

Reclaiming $1 isn't just psychological—it triggers derivative products and technical algorithms that accelerate momentum. Options contracts, futures liquidations, and breakout algorithms all converge at key levels, creating explosive potential when combined with fundamental demand.

Of course, in crypto, whale watching remains the ultimate sport—where 'smart money' often means 'insider money' masquerading as market genius. But when 210 million tokens change hands, even skeptics pay attention.

Key Insights:

• Whales accumulated over 210 million in Cardano tokens, while market-wide bullish sentiment wanes.
• Whales remained bullish on ADA price rally after a golden cross was formed in the weekly and daily timeframe.
• ADA price could rally towards $6 as the crypto market sentiment improves.

Cardano bulls lost upside momentum for a new all-time high (ATH) after market-wide profit booking tanked ADA price below $1.

Meanwhile, whales continued to accumulate at dips due to factors including Grayscale turning bullish on the asset, with high odds of spot Cardano ETF approval, and a bullish pattern formation for the first time since 2021.

Can Cardano price recover above $1 to continue its parabolic rally and hit an ATH high of $6?

Whales Accumulate 210 Million Cardano Tokens

Whales remained upbeat on a parabolic rally in cardano price as they continued accumulating millions of tokens in recent weeks. The accumulation showed strong confidence among whales.

In an X post on August 22, analyst Ali Martinez revealed that whales scooped 150 million ADA over the last 2 weeks. Among them, 100 million cardano were accumulated in the last 24 hours.

Moreover, Whale Alert reported more than 59 million ADA transferred from crypto exchange Bitstamp to an unknown wallet. The transaction was worth $50.24 million.

The massive whale accumulations amid declining sentiment in the crypto market suggest whales are buying ADA at dips for long-term gains.

3 Reasons Why Whales Stay Bullish on ADA Price Despite Market Crash Prospects

Cardano formed a “golden cross” chart pattern in the weekly charts for the first time since 2021. This formed after the 50-week moving average crossed above the 200-week moving average.

Since the golden cross confirmation in June, ADA price has rallied more than 80%. Last week, Cardano price jumped over 20% on institutional demand.

Moreover, a “golden pattern” formation in the daily timeframe caused ADA price to skyrocket by 13%. A “golden pattern” formation in the daily timeframe caused ADA price to skyrocket by 13% intraday last week.

Grayscale turned bullish on Cardano as the firm raised ADA’s weightage in its Smart Contract Platform Fund’s portfolio.

High odds of a Cardano ETF approval by the U.S. SEC. Also, Grayscale registered a trust for spot Cardano ETF in Delaware, highlighting investors’ demand amid bullish prospects of ADA price rally above $1.

Cardano has surpassed 113 million transactions on mainnet, according to Cardano analytics platform TapTools on August 22. It added that Cardano is silently becoming the world’s most robust interoperable blockchain.

ADA Price Falls to Support Level

Cardano price was trading at 4% lower at $0.83 at the time of writing, falling nears key support. The price has surged more than 30% in a week.

The 24-hour low and high were $0.833 and $0.877, respectively. Moreover, the trading volume saw a drop of nearly 24% in the last 24 hours.

CoinGlass data indicated huge selloffs in the derivatives market. At the time of writing, the total ADA futures open interest tumbled 5% to $1.52 billion in the last 24 hours.

ADA futures OI on Binance, OKX and Bybit slipped almost 4%, 2% and 3.50%, respectively. This signals bearish sentiment among derivatives traders.

However, the price remained above the 50-SMA, 100-SMA, and 200-SMA. Whereas the Relative Strength Index (RSI) dropped to 49.88, signaling potential for further downside.

According to analysts, Cardano is mirroring its last cycle, which saw a massive rally. ADA price could hit $6 in case the historical pattern repeats.