Cardano Price Prediction: Whales Buy 30M ADA As The Trendline That Killed Two Rallies Looms Again
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Whales accumulated over 30 million ADA in the past week as Cardano climbed 4.2% this week to $0.1738 on July 23, pressing against a descending trendline that rejected rallies in June and mid‑July while trading above the 20‑day EMA at $0.1682. Bitcoin long‑term holder supply hitting a new all‑time high signals macro crypto accumulation and a potential cyclical bottom that could support token performance, but the trendline remains a clear technical risk to a sustained breakout.
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- Whales accumulated over 30 million ADA in the past week as price pushed toward its most important technical test since the June low
- ADA is up 4.2% this week, its best weekly performance since the 31% surge from late June into early July
- Bitcoin long-term holder supply just hit a new all-time high, a pattern that has coincided with every major crypto cycle bottom since 2015
Cardano trades at $0.1738 on July 23, pressing against the descending trendline that rejected price in both June and mid-July, as whales quietly accumulated 30 million ADA in a single week ahead of what may be the most important breakout test of the recovery.
ADA Is Sandwiched Between Its Rising 20-Day EMA And A Trendline That Has Held Twice
The daily chart shows ADA compressing between the 20-day EMA at $0.1682 and a descending trendline from the M…
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