Whales Acquire 180 Million Cardano (ADA) Following eToro Relisting
Cardano (ADA) is trading at $0.751, with no significant movement in the last 24 hours. Analysts highlight a strong long-term outlook for ADA.
- Dan Gambardello points out that ADA typically consolidates for extended periods before experiencing rallies. The current 176-day consolidation mirrors its historical average of 179 days prior to breakouts.
- Gambardello suggests ADA is in a "pre-bull market" phase, predicting a potential rise to $10 by 2025 due to the upcoming Midnight airdrop and speculation around a future Cardano ETF.
- Over the past week, large investors acquired over 180 million ADA, valued at approximately $135 million.
- eToro has announced the relisting of ADA on its U.S. platform, previously delisted in 2021.
Ada price outlook
- ADA’s price is currently between the lower and upper Bollinger Bands ($0.71 to $0.83), indicating a potential breakout.
- A break above $0.83 may trigger a short-term rally.
- The Relative Strength Index (RSI) remains neutral, suggesting possible upward momentum.
- The MACD indicates a bearish trend; however, converging lines hint at a potential bullish crossover if volume increases.
ADA price chart with RSI and Bollinger Bands | Source: Trading View
ADA price chart with MACD | Source: Trading View