Cardano Whales Buy 410M ADA in April, Fueling Confidence in Price Rally

Cardano whales accumulated 410 million ADA in April alone, showing major holder confidence despite broader market consolidation near $0.70.ADA bounced back nearly 40% from its April low of $0.50, with price now stabilizing and testing resistance around the $0.72 mark.ADA continues trading above key moving averages with rising volume, while whales maintain accumulation behavior suggesting a potential upside breakout.Whale activity in Cardano (ADA) picked up in April with more than 410 million ADA accumulated, valued at about $282.9 million. This activity is indicative of increasing institutional faith and possible market repositioning.https://twitter.com/blocknewsdotcom/status/1918397167716225508Whale Accumulation Signals Strategic MovesIn April, large holders collectively acquired more than 410 million ADA tokens. According to data, this accumulation pattern suggests that influential investors are preparing for further market movement. The concentration of this buying pressure aligns with previous historical behaviors seen before price breakouts.Whale accumulation came as Cardano’s price dipped to a multi-month low of around $0.50. Since then, ADA has seen a 40% increase, now trading near the $0.70 mark. The timing and scale of these acquisitions point to an expectation of further upside from key players.Cardano Whale Accumulation Gains TractionCardano whale accumulation in April coincided with the market’s shift from a corrective phase to a potential recovery phase. ADA’s price action has been consolidating under the $0.72 resistance, where it has spent several days stabilizing. This zone has now become a key technical area under close observation.Source: TradingViewSupporting technical data show ADA trading above both the 9-day and 21-day moving averages. These levels now serve as dynamic support, reinforcing the ongoing bullish structure. The Relative Strength Index (RSI) at 56.90 also indicates moderate momentum, with room for growth.ADA Price Action Remains Stable with Bullish BiasCardano is priced at $0.7069 as of writing, showing a modest 0.86% gain in the last 24 hours. The 7-day chart remains flat, but underlying indicators show reduced selling pressure. Buyers continue defending support above $0.66, further supporting bullish sentiment.Market participation has slowly picked up with growing trading volumes. A break above $0.72 may be followed by a path towards the resistance range of $0.80 to $0.90, consistent with previous recovery patterns in the daily time frame.The post Cardano Whales Buy 410M ADA in April, Fueling Confidence in Price Rally appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.