Cardano [ADA] has been grabbing headlines lately, displaying dramatic price fluctuations that have left investors feeling both nervous and curious.
From reaching a high of $1.32 to a low of $0.91, ADA has managed to climb back to a crucial price point.
This instability has led to discussions about whether the digital currency is ready for a comeback or is going to experience more turbulence. Amid this uncertainty, one factor that shines through is the activity of large ADA holders.
Cardano Big Fish Show Confidence Amid Market Volatility
The recent price shifts have been heavily influenced by the strategic moves of Cardano’s major holders. Data indicates that these entities swiftly sold off their ADA holdings as the price surged from $1.15 to $1.33, taking advantage of the positive momentum to secure profits.
Nevertheless, with the price dropping sharply back to $0.91, these same big fish re-entered the market, accumulating approximately 160 million ADA tokens during the dip.
This intentional accumulation has sparked hope among market participants, indicating that the big fish view the current price levels as undervalued. Historically, such purchasing behavior by savvy investors has foreshadowed significant price rebounds.
Whether this signals the start of a sustainable upward trend or is merely a short-term liquidity move underscores the crucial role that big fish play in influencing ADA’s market dynamics.
Crucial Price Levels to Watch
Cardano recently displayed resilience by bouncing back above the critical $1 threshold, which has historically served as both a psychological and technical support level.
This rapid recovery suggests a strong demand at this level, making it a pivotal range for buyers to defend. Currently, ADA is trading slightly above $1, consolidating close to the $1.04 mark.
A definitive close above this level could act as a launching pad for further upward momentum, with traders keeping an eye on $1.20 as the next significant resistance area. Previously, this level has triggered selling pressure, making it essential for confirming a bullish breakout.
With the RSI around 46 indicating a neutral market, there is room for a price surge if bullish momentum gains traction.
At the same time, trading volumes have stabilized following a sharp uptick during the recent selling and buying phases. A sustained break and hold above $1.20 might pave the way for a surge towards $1.30–$1.35, while a failure to do so could lead to a pullback to $1.
What’s Next for Cardano?
Cardano’s next move largely depends on its ability to sustain momentum above $1. A breakthrough past the $1.20 resistance level could trigger a rally towards $1.30–$1.35, powered by big fish accumulation and positive market sentiment.
Consolidation between $1 and $1.20 remains a possible scenario, reflecting indecisiveness and presenting an opportunity for further accumulation.
If ADA fails to hold above $1, bearish pressure may drive the price down to $0.90 or below, particularly if overall market sentiment weakens.
Recent big fish activity and solid support at $1 indicate that a bullish breakout or consolidation is more probable in the near term. Traders will be closely monitoring critical levels and market dynamics to confirm ADA’s trajectory.