Whales Quietly Accumulate ADA as Cardano Nears Bullish Triangle Breakout, Is $5 Next?

The Cardano (ADA) price is flying under the radar amid growing accumulation by large-holders (“whales”) and a technical formation that traders seldom ignore, a symmetrical triangle.With ADA currently trading around $0.66, after briefly reaching $0.69 earlier in the week, the stage appears set for a breakout, or a breakdown. Analysts suggest that if the bullish scenario prevails, ADA could target $1 and beyond, potentially even reaching $5 or more in a longer-term move.Whale Accumulation Signals Long-Term ConfidenceDespite short-term price softness, on-chain data reveal that wallets holding large quantities of ADA are steadily increasing their positions.According to recent reports, wallets with 100,000 ADA tokens have been accumulating over the past six weeks, even while retail demand remains lukewarm. This accumulation is taking place as ADA forms a low-volatility consolidation, such behaviour often precedes major market moves.The divergence is noteworthy. While Open Interest and spot cumulative volume delta (CVD) remain weak, signaling limited retail/speculator engagement, whales are quietly buying the dips.Enthusiasm among large-holders suggests confidence in ADA’s fundamentals and plays into the bullish thesis that this accumulation could underpin a powerful move once the technical breakout triggers.Symmetrical Triangle Breakout Offers Route to Major UpsideTechnical analysts highlight that ADA has been trading within a symmetrical triangle pattern, a convergence of support and resistance trendlines, typically signalling a buildup of tension before a decisive move.The crucial support near $0.61 and resistance roughly at $0.70–$0.75 mark the boundaries of this formation. A decisive breakout above the upper trendline could unlock a rally toward $0.80–$0.85, and potentially beyond $1.70 per some projections.Conversely, a breakdown below the support would invalidate the bullish setup and could see ADA revisit $0.55 or lower. Given the whale accumulation underway, the bullish scenario currently seems favoured, but traders must still watch for confirmation.Bottom LineThe question now gaining traction is: could ADA eventually hit $5? While the immediate target may be around $1 to $2, some longer-term models based on Fibonacci extensions and structural breakout maths place significantly higher levels on the table.If ADA converts supply zones into support and elevates its on-chain narrative, the powerful combination of whale positioning + breakout could carry it much higher.Cover image from ChatGPT, ADAUSD chart from TradingviewWeiter zum vollständigen Artikel bei NewsBTC Weiter zum vollständigen Artikel bei NewsBTC