Cardano, the cryptocurrency known for its focus on scalability and sustainability, has experienced a 25% increase in value over three days, pushing it past $0.43 for the first time since July. This rise is attributed to significant whale activity, which often suggests growing confidence among large investors.
Data from Santiment indicates a surge in large ADA transactions, with 697 transactions exceeding $100,000 recently recorded. This activity points to increased interest and optimism from key market players and aligns with a broader demand for the altcoin.
The average holding duration for Cardano has seen a notable 139% spike in just a week. Such a trend is viewed as a bullish signal, reflecting investors' belief in ADA's potential for short- to mid-term growth.
Technical analysis shows that Cardano currently trades at around $0.42, having surpassed the $0.40 resistance level. Maintaining this as a support floor could lead to further gains toward $0.47. However, failure to do so might result in a retracement to $0.31.
