Key Highlights
- Cardano (ADA) surged more than 23% in one week, rising from below $0.16 to around $0.19.
- Crypto whales bought over 240 million ADA, showing strong confidence in the token during the surge.
- Analysts see mixed signals, with short-term downside risks but a long-term price target of around $2.90 if history repeats itself.
Cardano (ADA) has drawn attention from traders after recording strong weekly gains. The cryptocurrency jumped more than 23% over the past seven days, from below $0.16.
The rally came as large investors bought millions of ADA tokens, helping to push the price higher and bringing fresh attention back to the project. At the time of writing, ADA was trading close to $0.19 after giving back a small part of its recent gains.
As the price climbed, more traders returned to the market, leading to a sharp rise in trading activity. Cardano’s daily trading volume climbed, nearly reaching $600 million. At the same time, the project’s market value also increased to around $7 billion, keeping Cardano among the biggest cryptocurrencies in the market.
Why is ADA token surging?
One of the key factors behind the price jump appears to be the actions of crypto whales. According to blockchain analytics platform Santiment, large holders purchased more than 240 million ADA during the recent price increase. Their combined holdings rose to approximately 14.5 billion ADA.
The accumulation suggests that some large investors increased their exposure during the rally. However, whale activity alone does not guarantee continued price gains, as market conditions and broader sentiment continue to influence price movements.
Following the move toward $0.19, ADA experienced a minor pullback as some traders took profits. However, the token has held most of its recent gains, keeping attention on whether the recovery can continue.
Analyst signals short-term pressure
Despite the recent recovery, some technical indicators suggest caution in the near term.
Market analyst GainMuse said ADA recently confirmed a bearish wedge breakdown on the 30-minute chart after falling to around $0.1802.
According to the analyst, the price reached an early downside target near $0.1791, while higher trading volume during the drop suggested that sellers had taken control in the short term.
GainMuse said ADA would need to climb back above $0.1808 to cancel the bearish setup and bring back short-term bullish momentum. If that does not happen, the analyst believes the price could fall toward the next target around $0.1747. The analysis also placed support near $0.1719, with another stronger support area around $0.1663 if selling pressure becomes stronger.
Long-term outlook keeps bulls interested
While the short-term picture remains mixed, some analysts are looking much further ahead. Crypto analyst Marks compared ADA’s current market structure with its previous cycle between 2020 and 2021, when the token traded at lower levels before eventually reaching its record high.
Based on that comparison, Marks suggested ADA could potentially move toward $2.90 by early 2028 if a similar pattern develops.
However, historical price patterns do not guarantee future performance, and Cardano’s future trajectory will depend on market conditions, adoption, and broader cryptocurrency trends.
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