Cardano Whale Transactions Surge as ADA Eyes Bullish Breakout

Whale activity on the Cardano (ADA) network has spiked significantly, signaling renewed investor interest. According to crypto analyst Ali, over 137 transactions exceeding $1 million each were recorded in just 24 hours—an unusual surge that suggests institutional investors or high-net-worth individuals are actively repositioning in the ADA market.

The uptick in whale transactions comes amid a strong rebound in ADA’s price. Since bottoming out near $0.50 in late June, Cardano has surged by over 75%, breaking through key resistance levels and reaching a 20-week high of $0.896 on Friday. Despite a modest 2.7% pullback to $0.816, ADA remains up 15% over the week, indicating continued bullish sentiment.

Technical indicators add weight to the optimism. Analysts note that ADA has broken out of a bull flag pattern on the weekly chart and flipped both the 50-day and 200-day simple moving averages into support zones. If the bull flag pattern plays out, ADA could target $2.70—a potential 200% gain from current levels.

While the rise in million-dollar transactions may signal accumulation, it's important to remain cautious, as similar spikes can precede major sell-offs. Still, the scale of recent whale moves underscores growing confidence in Cardano’s market outlook and fundamental strength.

With increasing on-chain activity and positive technical patterns forming, ADA may be positioning for a major breakout. Investors will be closely watching price behavior and whale movements in the coming days for signs of a sustained rally or potential reversal.