The price of Cardano (ADA) maintains a bullish momentum during Monday's trading session, currently hovering above the 0.59 USD mark after a strong bounce from a key support zone last week. On-chain data indicates that whales are accumulating strongly again, while the level of discussion about ADA on social media has also increased significantly — a sign that investor confidence is being reinforced. Technical indicators show that selling pressure is gradually weakening, implying that the early stage of a new bullish trend may be forming.
Cardano accelerates as whales “buy the dip”
Supply Distribution data from Santiment continues to bolster the bullish outlook for Cardano, as many large whale groups seize the opportunity to accumulate ADA during recent pullbacks.
Specifically, whale groups holding 1–10 million ADA ( yellow line ) and 10–100 million ADA ( blue line ) have accumulated a total of 160 million ADA just from Thursday to Monday. This figure indicates that large investors are taking advantage of the “buy low” opportunity as the market adjusts, laying a solid foundation for the next bullish momentum.
ADA Supply Distribution Chart | Source: SantimentIn addition, Cardano's Social Dominance on Santiment has also seen a significant increase. This metric, which measures the rate of discussion about ADA across cryptocurrency media channels, surged from 0.18% on Saturday to 1.29% on Monday — the highest level since late September. This growth reflects an increasing interest from investors, while marking a return of activity in the Cardano community.
ADA Social Dominance Chart | Source: SantimentData from CryptoQuant also brings positive signals. Both the spot and derivative markets of ADA have witnessed large buy orders from whales, the market is gradually “cooling down” and the advantage is leaning towards the buyers, opening up the possibility of forming a sustainable recovery.
Cardano Price Prediction: ADA Bounces Back After Testing Key Support Zone
The price of Cardano (ADA) has found a solid support around the level of 0.49 USD on November 4th and since then has recorded an impressive recovery of about 11% as of Sunday. At the time of writing on Monday, ADA continues to maintain a bullish trend and is trading above 0.59 USD.
If this trend is maintained, ADA has the potential to extend its recovery, aiming for the next important resistance zone around 0.70 USD.
ADA/USDT Daily Chart | Source: TradingViewTechnical indicators also support the bullish potential. The RSI on the daily timeframe is currently at 43 and is approaching the neutral threshold of 50, indicating that selling pressure is gradually weakening. A breakout of the RSI above this neutral threshold will reinforce the recovery momentum. At the same time, the Moving Average Convergence Divergence (MACD) has just shown a bullish cross on Sunday, sending a clear buy signal and confirming new bullish momentum, opening up the possibility for the start of an upward trend.
On the contrary, if ADA faces selling pressure, this coin may revisit the support zone around 0.49 USD.
SN_Nour
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