• ADA flashed multiple signs indicating that a potential pattern break was on the way.
• ADA large holder flows demonstrate renewed interest by whales, which could indicate accumulation.

Is Cardano [ADA] on the verge of a substantial price move? Multiple signs point towards a potential bullish outcome in the coming days.

ADA has been struggling to sum up enough volumes to recover from its latest pullback. However, that might be about to change now that whale activity has been on the rise.

The cryptocurrency kicked off October with a significant dip in large holder flows. This goes for both inflows and outflows.

ADA large holder activity bounced back this week, suggesting that whales are once again showing interest in the cryptocurrency.

Large holder inflows peaked at 4.79 billion ADA in the last 24 hours, while large holder outflows peaked at $4.72 billion.

The data suggests that large holders had a net gain in the last 24 hours, hence some accumulation. This suggests that the sentiment might be shifting in favor of the bulls despite the recent bearish price action.

On-chain data also revealed a surge in long positions in the last three days. This is further confirmation that the bullish sentiment has been growing this week.

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Author: Michael Nderitu