Cardano Jumped 13% in a Week — Here’s the Whale Buying Behind the Buzz
ADA hit a monthly high as whales snapped up 240M+ tokens. One analyst floats $2.90 — but overbought signals urge caution.
Cardano’s ADA token has quietly become one of the best performers among the top ten cryptocurrencies this week, climbing 13% to touch a monthly high near $0.19. Behind the move: data showing large holders, or “whales,” have been buying up hundreds of millions of tokens, sparking talk among analysts about whether history could repeat itself for ADA holders.
What’s actually driving the price
On-chain analyst Ali Martinez pointed to whale wallets accumulating more than 240 million ADA tokens over just five days, a pace of buying that suggests bigger players are positioning ahead of, or in response to, the recent bounce. That’s the kind of signal everyday holders often watch closely, since heavy accumulation by large wallets can precede — though never guarantees — further price moves.
Adding to the momentum story, commentator Leon Voss Official noted that ADA has pushed above a long-term descending trendline that had capped the price for a while, and flagged $0.17 as the level that needs to hold for the breakout to be taken seriously. He also linked the move to a roughly 9% rise in Cardano’s total value locked (TVL), which has climbed back to nearly $68 million — a sign that some activity is picking up within the network’s DeFi ecosystem, not just on trading charts.
The $2.90 target — and why it’s a big “if”
The headline-grabbing number in this story comes from analyst JAVON MARKS, who argues ADA’s current chart pattern resembles the setup seen in 2020-2021 — right before the token’s historic run toward an all-time high. Based on that comparison, the analyst has floated a target of $2.90, which would be roughly a 1,300% jump from current levels.
It’s worth being clear-eyed here: this is one analyst’s chart-pattern read, not a prediction backed by fundamentals or a timeline. Chart comparisons to past bull runs are popular on crypto social media because they’re eye-catching, but market conditions, regulation and investor sentiment today look very different from 2020-2021. Another trader, Crypto Tony, offered a more cautious, two-way view — planning to short ADA if the rally gets rejected, or go long only if price manages to clear $0.22.
Why the rally could stall just as fast
Momentum indicators are already flashing a caution sign. ADA’s Relative Strength Index (RSI) briefly spiked above 80 — deep into “overbought” territory — before cooling to around 65. That’s still elevated enough to suggest a short-term pullback wouldn’t be surprising, even if the longer-term picture stays constructive.
For everyday ADA holders, the takeaway is straightforward: whale buying and a broken trendline are genuinely encouraging signs, but the broader crypto market remains unsettled, and sharp gains like this one can reverse quickly. Treat big price targets — including the $2.90 figure — as speculation rather than a roadmap, and keep an eye on whether ADA can actually hold above the $0.17 support level analysts are watching before reading too much into any single week’s move.
Read more: XRP ETFs Are Still Attracting Cash — So Why Has the Price Dropped 40%?
