The Cardano Whale is back! – Evaluating the possibility of ADA reaching the 0.91 dollar mark

Cardano (ADA) has regained the important support zone near the $0.59 mark after many weeks of prolonged bearish pressure, indicating the potential for a trend reversal as buying activity is increasing.

At the time of writing, the bulls are trying to push the price up to the resistance zone of $0.67 — a price level that coincides with the upper boundary of the bearish trend channel.

However, if it cannot close a daily candle clearly above this mark, ADA still runs the risk of being rejected. If the breakout at $0.67 is successful, the price could quickly head towards the bearish zone of $0.83–$0.91, as technical factors and market sentiment start to tilt in favor of the buyers.

Source: Ali## Are strong buyers setting the stage for an ADA breakout?

The Spot Taker CVD data shows that. Over the past 90 days, the buyers have dominated the market, continuously placing buy orders at the ask price.

The prolonged buying pressure reflects the increasing confidence of investors. Therefore, if demand continues and ADA surpasses the $0.67 mark, the upward momentum may accelerate.

However, if the buying force weakens before the breakout, the price may revert to the accumulation phase, causing the bulls to remain on the defensive.

Currently, the derivative data is still supporting the short-term bullish narrative in the context of increasing momentum from the spot market.

Source: CryptoQuant## Whales continue to accumulate as $2.33 million is withdrawn from exchanges

Whales appear to be preparing for long-term holding, as on-chain data reveals a net outflow of -2.33 million dollars from exchanges on July 4.

This negative cash flow indicates that investors are transferring ADA into self-custody wallet (custody) or cold wallets, which usually helps to alleviate short-term selling pressure.

Therefore, this may support price stability or even trigger a breakout if the accumulation process continues.

However, the outflow of funds needs to be maintained for a long time to strengthen the bullish argument. If the cash flow trend reverses, the recovery could be quickly threatened, especially as the price approaches important resistance zones.

Source: CoinGlass## Is the network value of ADA far exceeding its actual utility?

At the time of writing, the NVT index of ADA has skyrocketed to 273, raising many questions. A high NVT indicates that ADA is overvalued compared to the level of on-chain trading activity.

Although the price action is improving, this divergence may indicate that speculative capital is outpacing the actual usage of the network. Therefore, ADA needs to combine the upward momentum with improvements in circulation and trading volume to sustain a bullish trend.

Otherwise, the upward momentum may weaken under pricing pressure. Currently, a high NVT is still a warning signal as it indicates an imbalance between market value and actual utility.

Source: Santiment## Speculators withdraw as short-term holder activity falls

The Realized Cap HODL Waves data shows that short-term holders are gradually withdrawing from the market. The group holding for 1–7 days has continuously decreased over the past two weeks, now accounting for less than 1.5% of the total realized cap.

This trend reflects a decline in speculative activity and an increase in long-term hodl behavior – a factor that often helps stabilize price movements. Additionally, this may also indicate that investors are being patient, allowing ADA to have room for accumulation before any major breakout occurs.

However, if short-term traders quickly return, volatility may increase and disrupt the current stabilization phase. At this time, the relatively absent short-term holders are contributing to the establishment of a healthier market.

Source: Santiment## The amount of coins spent on-chain falls as confidence increases?

The data from the output age range of spent coins seems to indicate this. The volume of coins spent aged 1–7 days has sharply fallen to 11 million dollars, compared to the continuous spikes above 100 million dollars last month.

This deep decline signals that short-term profit-taking activity is decreasing, reinforcing the view that holders are recently choosing to continue holding. If this trend is maintained, short-term selling pressure may decrease, creating conditions for price increases to develop.

However, if the amount of coins being spent suddenly increases, it could weaken the current bullish trend. Investors should monitor the stability of this indicator to assess the level of confidence in the market.

Source: Santiment## Can ADA rise to $0.91 without stronger on-chain support?

The technical structure of ADA has improved and buyers are showing strength through important derivative indicators and on-chain data.

However, the pressure on valuation and the demand for a clear breakout above the 0.67 dollar threshold remain significant challenges.

For ADA to reach the expected price zone of 0.83–0.91 dollars, a combination of bullish momentum and real utility is required, while keeping selling pressure low.

Until that happens, investors should expect further consolidation or gradual progress, unless there is a strong enough catalyst to boost market confidence.

Minh Anh