Cardano (ADA) price has surged almost 7% in the last 24 hours, bringing its 7-day gains to 17%. Trading volume has also seen a significant boost, climbing roughly 25% in the past day and nearing $2 billion.

As whale accumulation grows and ADA approaches critical resistance levels, the market’s focus turns to whether the uptrend can strengthen or if a correction may be on the horizon.

ADA’s Current Uptrend Lacks Strength

Cardano Average Directional Index (ADX) is currently at 21.2, up from 18 two days ago, signaling a gradual strengthening of its trend. Earlier today, the ADX reached 22, briefly crossing the threshold that typically defines the presence of a stronger trend.

This increase aligns with ADA’s ongoing uptrend, suggesting that while the trend is still in its early stages of development, it is showing signs of gaining momentum.

The ADX measures trend strength on a scale from 0 to 100, independent of trend direction. Values below 20 indicate a weak or range-bound market, while values above 25 suggest a strong trend. With ADA ADX at 21.2, the trend is approaching meaningful strength but has yet to fully confirm its robustness.

If the ADX continues to rise, it could signal that ADA’s uptrend is solidifying, increasing the likelihood of sustained upward price movement. However, if the ADX stalls or declines, it may suggest that the current rally is losing momentum and could shift toward consolidation.

Cardano Whales Started Accumulating Again

The number of Cardano whales — wallets holding between 1 million and 10 million ADA — reached a month-low of 2,453 on January 9. Since then, the count has been steadily rising, currently standing at 2,484, the highest level since De

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Author: Tiago Amaral