2 Bullish and 1 Bearish ADA Signals: Where Is Cardano’s Price Going Next?

Cardano’s native token is among the best-performing cryptocurrencies (from the top 100 club) over the past week, with its price rising by 8% to around $0.17.

Two key developments suggest the uptrend might be just at its starting point, while another factor hints that an upcoming correction is just as likely.

Bulls vs. Bears

Earlier this month, the large ADA investors, known across the crypto space as whales, increased their total holdings to 25.6 billion coins. This represents almost 70% of the token’s circulating supply and is the highest level since February 2023. At the same time, retail investors have reduced their exposure to ADA, with Santiment explaining that this combination could create a healthy setup for the asset.

Just recently, the renowned analyst Ali Martinez revealed that whales have purchased 30 million units (worth over $5 million at current rates) over the last month. The obvious revival of this cohort of investors signals that they are positioning for the next potential price upswing.

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