- Cardano whales are stacking up more ADA, signaling strong bullish sentiment.
- Hopes for an ADA ETF approval and Bitcoin staking on Cardano are boosting investor excitement.
- ADA’s double-bottom pattern and Fibonacci level hint at a potential 70% rally ahead.
Cardano’s (ADA) price has taken a bit of a breather lately, slipping for three straight days after last week’s strong rally. On Sunday, ADA dipped to about $0.70, falling from its local high of $0.747.
Still, there are some pretty compelling reasons why ADA might not just recover… but actually jump 70% and retest that critical $1.176 resistance. Here’s what’s fueling the optimism:
Whales Are Scooping Up ADA
One of the biggest bullish signals? Whale activity. According to Santiment, the wallets holding between 10 million and 100 million ADA coins now account for roughly 35.5% of all circulating supply — up from 33% back in January.
Even mid-tier whales (1M–10M ADA) are growing, now controlling 15.83% of supply. Historically, when whales start stacking up, it’s usually because they smell bigger gains ahead… not the other way around.
ADA ETF Approval and Bitcoin Staking Could Be Game-Changers
Another big catalyst? The growing odds of a spot ADA ETF getting the green light.
Now that Paul Atkins is running the SEC, approval chances have shot up — Polymarket odds now sit at around 55%. Atkins is seen as way more crypto-friendly and could greenlight dozens of crypto ETFs (not just ADA).
Even bigger: Cardano co-founder Charles Hoskinson is pushing for Bitcoin staking on Cardano through sidechains like Midnight and Midgard. These will let Bitcoin holders earn yield using zero-knowledge proofs — a massive leap from risky centralized lending options that flopped in the past.
A Bullish Double-Bottom on the Charts
And let’s not forget the technical side of things. ADA has formed a double-bottom pattern at around $0.510 — a classic bullish formation that hints short-sellers are running outta steam.
Even better, Cardano is hovering near the 61.8% Fibonacci retracement level — the famous “golden ratio” where prices often bounce. Plus, there’s a small bullish flag showing up on the chart too.
If bulls can push forward, ADA could smash through the $1.176 neckline — a move that would represent a 70% gain from where it’s sitting now.
