Cardano whales predict key signals Are ADA prices at the foot of a major explosion?

In the long term, Cardano price appears to be in the midst of a parabolic recovery targeting a new ATH formation at the neckline of the curve. Moreover, technical analysis suggests that the rally may turn bearish in the coming days. However, the whales appear to have detected some bullish signals as they begin accumulating more ADA tokens.

Since early December 2023, the market has reacted aggressively, favoring bullish prices for most tokens. Increasing buying pressure appears to have swamped the decline, which had been making small gains. This created some interest among market participants, resulting in whales accumulating ADA at a discounted price.

According to data shared by a renowned analyst, eggThis means that addresses holding between 100K and 10M tokens have been consistently accumulating ADA tokens regardless of the price trading south. This suggests that they may have sensed bullish behavior on the horizon and stepped up their accumulation. Over the past two weeks, the whale stock has increased from about 5.85 billion to a maximum of 5.77 billion, and the price has continued to fall from $0.664 to the current level of about $0.562.

What’s next for ADA pricing?

ADA price has been on an upward trend since mid-October, surging nearly 180% to hit a 2023 high of around $0.67. Since then, the price has been trading within very narrow margins, suggesting that a strong rebound could be on the horizon. Cardano price could trigger a healthy uptrend and recover levels above $0.64 within a few days and reach $0.65 by the end of the month.