Cardano price has experienced a slight recovery following a week of market bearishness. Currently, ADA is holding above its support level, showing potential for a bullish trend in the near future. The recent upward movement has sparked discussions about whether Cardano could reach $1 by March 2025, especially with 12.54 billion ADA tokens being accumulated by whales in the past 24 hours.
How Whale Accumulation Could Push Cardano Price to $1 by March 2025
The recent accumulation of 12.54 billion ADA tokens by large holders has sparked interest in the potential price movement of Cardano.
Over the past month, data shows an increase in whale activity, with significant buys pushing the price upward.
As ADA whales continue to accumulate, the overall market sentiment remains optimistic, creating a potential for the price to hit $1 by March 2025.
Large whale movements have had a strong influence on the price of ADA, driving its volatility. The ongoing accumulation could create upward momentum as these whales take positions ahead of anticipated market trends.
If the buying pressure continues and broader market conditions align, ADA might see a price surge that reaches or exceeds the $1 mark in the coming weeks.
ADA Technical Analysis
The ADA price is trading at $0.6349 as of March 1, 2025. The Cardano price market is seeing fluctuations, with the price remaining within a narrow range of $0.6349 to $0.50. This follows the crypto market recovery, with BTC seeing a slight surge.
This ADA follows a period of consolidation, with some bullish movements pushing it higher earlier in the month. ADA is facing challenges breaking above $0.700, a resistance level that has been difficult to surpass.
The Relative Strength Index (RSI) is at 41, showing that the market is in a neutral state but could potentially shift toward a bullish direction.
The Moving Average Convergence Divergence (MACD) indicator suggests mixed signals. The current MACD histogram reading at 0.0043 indicates that there is some bullish momentum, although the histogram’s width is narrowing.
The MACD line at -0.0167 signals slight bearish pressure, with the moving averages not diverging sharply. If the price fails to hold above $0.60, the downside risk may grow. Resistance levels are identified at $0.70 and $0.80, while support is holding firm at $0.60 and $0.50.
A break above the $0.70 resistance could see the Cardano price prediction test at higher levels. Conversely, failure to hold above $0.60 could lead to a retest of $0.50.
To sum up, the Cardano price could hit $1 by March 2025, driven by whale accumulation and strong buying momentum. However, resistance at $0.70 remains a significant challenge for ADA’s upward movement.
The post Will Cardano Price Hit $1 by March 2025 as 12.54B ADA Whales Accumulate? appeared first on CoinGape.
