Cardano (ADA) Surge in Trading Volume

Cardano (ADA) is experiencing a notable increase in trading volume and whale activity, while its price remains relatively stable.

Data indicates a dramatic 63.84% rise in ADA’s 24-hour trading volume, exceeding $1.12 billion. Large ADA holders, known as whales, are notably increasing their positions, with over 50 million ADA added in just the past 48 hours.

This recent buying spree follows a significant whale purchase of 190 million ADA the previous day. Despite these developments, ADA’s price has remained stable, prompting speculation about whether this whale activity will eventually affect ADA’s price.

Input Output Global (IOG), the organization behind Cardano, announced that their Lace wallet is now multi-chain, allowing Bitcoin integration into the Cardano blockchain for its users.

What’s Holding ADA Back?

Currently, Cardano’s price is in a holding pattern, trading primarily between $0.69 and $0.75.

Although the increased whale activity and new Bitcoin support for Lace are favorable signs, ADA’s price has largely remained flat. Analysts suggest that if the price falls below the $0.69 support level, it could drop further to around $0.57 or $0.60.

Technical Indicators:

• The Relative Strength Index (RSI) is at 46.14, reflecting neutral momentum.
• The Bollinger Bands (BB) indicate the next resistance level to watch is $0.76, with stronger resistance at $0.93. Currently, ADA trades at $0.71, down 1% over the last 24 hours.

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Cardano Investors Watch These Key ADA Price Levels

Despite the recent price stagnation, signals suggest Cardano might break out soon. Current data shows relatively low selling pressure on ADA, increasing the chance of testing the $0.75 resistance level.

> “A daily close above $1.15 will confirm this right-angled descending wedge, pushing #Cardano $ADA to $2!”
> — Ali (@ali_charts) March 20, 2025

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Crypto analyst Ali Martinez suggested that if Cardano closes above $1.15 on the daily chart, it would confirm a bullish right-angled descending wedge pattern, indicating a potential price surge, possibly reaching $2.

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