In just 48 hours, Cardano whales acquired over 40 million ADA tokens, reflecting a strong demand from these MAJOR investors. Their purchasing activity suggests a bullish outlook and confidence in ADA’s market potential, driving up the price significantly. This move is not isolated as retail investors are also showing increased interest, collectively pushing ADA upwards.

ADA’s surge by 23.8% over the past week is supported by key market indicators. The Relative Strength Index (RSI) jumped from 39 to 62, indicating powerful buying momentum. Additionally, the Stock to FLOW Ratio ROSE to 133.7, marking increased scarcity and demand. These figures underscore the prevailing bullish sentiment among traders and investors.

With ongoing bullish trends, 54% of traders are taking long positions on ADA, reflecting Optimism for continued price increases. The MVRV Ratio of 1.1 indicates low selling pressure, suggesting that ADA’s current price has room to grow before potentially hitting overbought levels. This positions Cardano for further gains amidst positive investor sentiment.