Key Insights:
- Cardano price surged above $0.81 after 137 large transactions occurred in 24 hours
- Analysts predict the ADA price could hit $5 to $10 if altseason accelerates into September
- Coinglass showed leverage cooling, suggesting this rally is driven by spot demand
Cardano price surged above $0.81 this week as institutional-level accumulation intensified. Over 137 whale transactions exceeding $1 Million were recorded on the Cardano blockchain in the last 24 hours.
Concurrently, prominent analysts issued bullish targets. They are projecting the ADA price to rally toward $5 or even $10 before year-end.
Cardano Price Supported by Surging Whale Transactions
The increase in Cardano price is underpinned by a spike in large-volume transfers tracked by Santiment. Analyst Ali revealed that there were 137 high-value ADA transactions on one day. Such figures typically reflect institutional accumulation or large holdings.
Historical data have shown that the ADA price often responded positively to surges in whale activity. Historically, periods of increased transactions exceeding $1 Million have also preceded extended uptrends.
At press time, Cardano price traded near $0.82, having flipped the $0.78 resistance zone into support. On-chain activity is picking up and fueling the current rally. There is also assurance among whales, hinting at further accumulation.
Analysts Target $5–$10 ADA in Late-Stage Altseason Cycle
Minswap Intern identified a breakout from a long-term wedge pattern. This suggests the ADA price may enter its most substantial rally since 2021.
The chart displayed a parabolic curve, suggesting strong upward momentum. If the trend continues, price levels may reach between $5 and $8.5. Cardano price recently reclaimed its 50-day moving average and is holding above its 20-day trendline.
The ascending structure drew up regular higher lows and clear resistance turns between $0.72-$0.78. Notably, there are no major technical obstacles until $1.15. So, the trend looks similar to initial breakouts in prior cycles.
Minswap Intern stressed that the volume should be sustained and increased to keep up this pace. If so, ADA price could challenge psychological zones, such as $2 and $3, before September.
Analyst Forecasts Cardano Price at $10 in Macro Altcoin Move
DApp Analyst placed Cardano’s current rally within the broader altcoin market structure. Between September and October, he projected that Total3 could hit a peak of $3 Trillion.
This metric excludes Bitcoin and Ethereum from the crypto market cap. Under this scenario, Cardano price may rise to $5 as a base target, with $10 possible in an extended run.
The Total3 chart illustrates an ascending wedge that is about to break out. Cardano remains one of the few large caps well below all-time highs. This could attract rotation as traders search for lagging high-potential assets.
The analyst noted that Cardano’s fundamentals, staking, governance, and DeFi activity are significantly stronger than in 2021. Yet, the ADA price still lags behind its previous peak.
This structural setup, supported by broader market expansion, gave ADA price room to outperform during the expected late-cycle altseason. If sentiment accelerates, Cardano price could rapidly revisit key levels not seen since the previous bull market.
Derivatives Market Remains Cautious Despite Spot Rally
According to Coinglass data, ADA futures open interest declined 8.75% over 24 hours, now at $1.55 Billion. Options volume also dropped over 92% to $6.59 million, reducing short-term speculation despite the rising ADA price. This suggests the rally is spot-driven mainly.
Long/short ratios remain firmly in favor of buyers. Top trader ratios on Binance indicate a long dominance of 3.1, and the same can be seen in OKX. Liquidations are low and cleared around $14.5 Million within 24 hours.
They are mainly focused on long positions, demonstrating a stable market. While leverage is cooling, open interest remains elevated. If momentum continues, derivatives participation may re-enter with stronger conviction.
In the meantime, the technical breakouts and the whale support indicate an improvement in the leverage that is not so high. Sustained strength could carry Cardano price above $1.15 in the near term. Also, it could set the stage for a larger trend toward $2 or higher.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
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