Cardano (ADA) Price: Whales Are Buying the Dip as ADA Breaks Out of Its Downtrend

TLDR

• ADA traded near $0.196 after gaining around 14% over the previous seven days.
• An analyst projects a 147% rally toward $0.47 following a breakout from a downward channel.
• Whale wallets accumulated 110 million ADA tokens since Friday, per Santiment data.
• Derivatives metrics show a slight bullish tilt, with funding rates flipping positive.
• Key resistance sits at $0.20, with higher targets at $0.22, $0.25, and $0.30.

Cardano (ADA) is trading near $0.196 after posting double-digit gains over the past two weeks. The token remains roughly 94% below its all-time high of around $3.10, but short-term momentum has improved.

ADA gained about 14% over the previous seven days. The price holds above the 50-day Exponential Moving Average (EMA) at $0.180, which analysts view as a key support level.

One crypto analyst says Cardano has broken out of a long-term downward-trending channel. The breakout above the channel’s upper boundary initially produced a 13% gain. If ADA holds above the breakout zone, the analyst sets a target of $0.47, a potential gain of nearly 147% from current levels.

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