Recent whale activity in Cardano (ADA) has surged, indicating that market sentiment may be turning optimistic.

With whales accumulating 230 million ADA in just three days, the impact on ADA's price movements could be significant, especially in the case of short positions being liquidated.

An analyst from COINOTAG stated: 'Despite facing market challenges before, the accumulation by major holders indicates their confidence in the future of ADA.'

Cardano whales have recently accumulated 230 million ADA, indicating a shift in bullish sentiment, and breaking through $0.70 is crucial for future gains.

Cardano whales are hopeful.

In the past 72 hours, whales holding 10 million to 100 million ADA have accumulated over 230 million ADA, valued at over $15 million at current prices. The shift from selling and maintaining neutrality to accumulation indicates a change in sentiment, with whales optimistic about ADA's potential in Q2 2025. Despite recent market struggles, their recent activities suggest confidence in the altcoin's recovery.

Whale accumulation is usually a bullish indicator, as these investors have a significant impact on the market. Accumulation is crucial as it provides the necessary support for ADA to break through resistance levels.

Cardano's liquidation chart shows that once ADA rises above $0.70, about $15 million in short contracts will expire. This presents a key opportunity for altcoins. Short sellers may be forced to cover, potentially leading to a short squeeze and driving up prices.

Potential liquidations of short positions could create upward pressure, preventing further declines and allowing ADA to recover. The combination of whale accumulation and upcoming liquidations of short contracts may provide Cardano with the momentum needed to break free from the recent downward trend.

ADA price can break through $0.70?

At the time of writing, Cardano's price was $0.65, staying above the key support level of $0.62. Altcoins have underperformed in recent weeks, but whale buying activity brings hope for recovery. A breakthrough at $0.70 could lead to further increases.

If ADA successfully breaks through $0.70, it will gain the momentum needed to continue its recovery. Turning $0.77 into a support level will provide additional impetus for Cardano to reclaim recent losses and potentially challenge higher resistance levels.

However, if Cardano fails to break through $0.70, the price may revert to the support level of $0.62. Losing this support would nullify the bullish outlook and could see ADA drop to the lower level of $0.58, continuing the prolonged downtrend.

Conclusion

The recent accumulation by Cardano whales and the potential impact of short contract liquidations may influence the altcoin's performance in the short term. With the key price level at $0.70, ADA's ability to break through may signal a significant shift in momentum, potentially indicating a new growth phase for the market.