"Institutions and whales simultaneously buying exploded"...Cardano, recapturing $0.30 'on the verge of explosion'

▲ Cardano (ADA)/AI-generated image

Cardano (ADA) is showing a strong rebound trend, aiming to recover $0.30 on the back of institutional capital inflow and a surge in futures market trading.

According to CoinGape, a cryptocurrency specialized media outlet, on April 21 (local time), Cardano is attracting market attention with an unusually sharp increase in trading volume on the Chicago Mercantile Exchange (CME) futures. Even as the overall virtual asset market remains in a correction phase, Cardano appears to be defending against downward pressure based on institutional demand, laying the groundwork for a rebound. In particular, the increase in CME open interest suggests that large asset management firms are actively incorporating Cardano into their portfolios.

The accumulation by whale investors is also evident. On-chain data shows that addresses holding large quantities are continuously expanding their purchases in low-price ranges. According to Santiment data, large transactions exceeding 10 million ADA have surged in the past week, indicating a spreading perception of a market bottom. This is analyzed as a typical accumulation phase where institutions and whales absorb selling pressure from individual investors.

Technical indicators are also signaling an upward reversal. Cardano has formed a double-bottom pattern by holding key support levels between $0.23 and $0.25. The Relative Strength Index (RSI) has rebounded from the oversold zone, and a golden cross formation is imminent on the Moving Average Convergence Divergence (MACD) indicator. If this trend continues, there is a higher possibility of settling at $0.30 after breaking the short-term resistance level of $0.28.

Network fundamentals are also developing positively. IOG, Cardano's developer, is continuously implementing updates to enhance scalability and interoperability. The activation of smart contracts and the total value locked (TVL) in decentralized finance (DeFi) are also showing stable growth, supporting ecosystem expansion.

The simultaneous accumulation by institutions and whales, along with the expansion of trading in the derivatives market, is interpreted as a sign that Cardano is establishing itself as a mainstream asset. The market is now watching whether Cardano can break through major resistance levels, recover $0.30, and enter a full-fledged upward trend.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*