Cardano price rose more than 7% over the past 24 hours, even as the token remains in a broader recovery phase. The move came as large holders continued to add to their positions, while ADA traded near $0.29.
Santiment data shows steady accumulation by Cardano whales and sharks through a period of heavy price pressure.
Wallets in the 100,000 to 100 million ADA range added about 819.14 million ADA over six months. The buying continued even as market sentiment weakened.
During that stretch, ADA fell about 71%, dropping from near $0.90 to the mid-$0.20 range. Despite the decline, these larger holders increased exposure rather than cutting positions. That behavior often signals confidence in longer-term value.
The added tokens amount to roughly $213.9 million. The trend also suggests that larger wallets absorbed supply while smaller participants sold into volatility. This pattern has drawn attention because it contrasts with the weak price trend seen across much of the period.
ADA hovered near $0.29 as the crypto market pushed higher alongside Bitcoin’s rebound toward $69,000. The broader upswing also lifted sentiment for major altcoins like Ethereum, XRP, and Solana. Cardano also posted stronger daily volume during the rebound.
Even so, ADA still faces resistance near $0.30. Price action has struggled around that area, with overhead pressure near the upper Bollinger Band around $0.2985. Buyers have pushed toward that level, but follow-through has remained limited.
ADA has stayed above the 20-day simple moving average near $0.2753. That supports the case for a short-term recovery, but it does not confirm a full trend reversal. A sustained move above $0.30 would strengthen the near-term bullish picture.
Market analysts say whale accumulation has not yet produced a decisive breakout. The Chaikin Money Flow reading near -0.04 points to mild selling pressure in the short term. That suggests smaller holders may still be distributing into strength.
Support remains visible around $0.2520, with another near-term support zone in the $0.27 to $0.28 range. These levels remain important for the current rebound attempt. If ADA holds above them, buyers could continue testing higher resistance areas.
At the same time, some momentum indicators have started to improve. Analysts point to a firmer RSI and a bullish MACD on the daily chart. If the broader crypto market stays steady, ADA could build on recent gains, but a move below support may extend the decline.
Also Read: Cardano News Today: ADA Price Tests Key Support After 17% Decline and Weak Recovery Signals
On the higher-timeframe charts, Cardano is still trading within a wide correction range that began after its 2021 high near $3.10. ADA has spent a long period moving sideways, and recent rebounds from the lower end of that range have brought back attention to a possible longer-term recovery.
The analysts compare the current structure to earlier Cardano cycles that included a long base before a stronger upward phase. They view the current range as a possible transition between accumulation and expansion. That view still depends on sustained demand and stronger market conditions.
Targets above previous highs, including projections above $7, continue to appear in cycle-based analysis. Those projections require major shifts in liquidity, adoption, and market sentiment. For now, the clearest signal remains the steady buying by large ADA holders during a period of price weakness.