Cardano Price Eyes New Highs Amid Whale Activity, Onchain Development Push

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Key Insights:Whales bought 40 million ADA coins in 48 hours, signaling strong accumulation during the recent cardano price surge.ADA price jumped 17% in one week, maintaining a Golden Cross since April 20 on strong technical momentum.ADA open interest crossed $1 billion as short liquidations spiked, confirming increased bullish market activity.Crypto bulls are have been in full swing of late. A lot of altcoins have been seeing drastic gains including Cardano’s ADA. Cardano (ADA) price has shown strong bullish signs, attracting investor attention across the market.ADA price has climbed over 17% in a week, while whales have accumulated more than 40 million ADA tokens within 48 hours.At the same time, several technical indicators are signaling continued upside movement. Moreover, a fresh wave of onchain development could drive further momentum in the coming days.Cardano (ADA) Price Surges with Liquidations and Technical SignalsIn April, a large spike in long liquidations occurred, with over $9.6 million wiped out in just 12 hours. It marked a sharp drop in ADA price, which triggered losses for bullish traders.Short liquidations also rose, though at a smaller scale. Following this event, ADA coin’s price began to recover slowly while liquidation volumes decreased.By early May, Cardano price had risen to about $0.85 from below $0.50 in early April. This upward move was matched by rising short liquidations, especially on May 8.Many traders betting against the market were forced to close their positions as prices continued to rise. The consistent price growth helped confirm a strong bullish trend supported by market activity.Source: CoinglassTechnical analysis also shows that ADA’s MACD indicator formed a golden crossover. It is commonly read as a bullish signal when the short-term trend overtakes the long-term trend.A separate indicator, known as the Alligator, also suggests a continuation of upward momentum due to widening moving averages.Whale Accumulation Strengthens Bullish OutlookAccording to data shared by market analyst Ali Charts, over 40 million ADA tokens were purchased by large holders (whales) in the past two days. This level of accumulation shows strong confidence among institutional investors or large-scale traders.Such buying pressure often precedes further gains if demand continues to grow. Whale activity has been supported by rising open interest (OI), which recently crossed the $1 billion mark.This growth in open interest, combined with price increases, suggests more traders are entering the market with long positions. These factors help support the theory that ADA could test new price highs in the short term.Source: XThe coin’s price recently hit a daily high of $0.8274 after jumping from a low of $0.7730. At the time of writing, ADA was trading at $0.8344. Cardano price is up nearly 5.26% in the past 24 hours, according to CoinMarketCap.Development Push Drives Ecosystem GrowthAlongside market activity, the Cardano ecosystem is experiencing rapid development. Charles Hoskinson, founder of Cardano, expressed urgency in accelerating the release of key onchain products. In a recent post, he stated, “No more delays. Cardano needs to get to the next level.He cited Leios, a new scalability protocol, as one of the projects that could speed up progress. Hoskinson wants to see its launch in 2026 instead of 2028, urging developers to meet tighter deadlines.Sebastien Guillemot, a core developer, also mentioned growing enthusiasm within the community for launching onchain products. These comments follow recent changes in the development teams, reflecting a shift toward faster product deployment.The increased pace of development may improve Cardano’s appeal, especially as the network positions itself to support Bitcoin DeFi use cases. The Proof-of-Stake chain is being considered as a potential settlement layer for broader blockchain applications.Cardano Price Testing Resistance, Potential Breakout AheadWhen writing, ADA price was challenging an important resistance level at approximately $0.80. On the weekly chart, ADA has closed above the 20-week simple moving average at $0.7911. This level was equal to the middle Bollinger Band used previously for the measurement of trend movements.The Bollinger Bands convergence indicates that a volatility widening may soon occur. ADA has skyrocketed over 20% in the span of oe week. It appeared set to hit the upper Bollinger Band at approximately $1.10.According to the Super Trend indicator, $0.4812 represents strong support and is indicative of the big move up from recent lows.Source: TradingViewIf ADA price continues its bullish momentum and closes above the important resistance, it can opt for a revisit of $0.90 and retest the $1.00 area. However, a caution persists among traders as it is important for the price to remain over $0.79 to check the breakout.Source link