Cardano Price Spikes 22% Amid Whale Accumulation, Targets $0.208

Cardano's price surged by 22% in recent days after large holders accumulated over 240 million ADA, according to data from Santiment.

The token climbed as high as $0.190 before pulling back to approximately $0.186 on August 3, marking a recovery from its July low near $0.154.

An inverse head-and-shoulders pattern has formed on the 4-hour chart, with a potential price target of $0.208 if ADA sustains above the neckline at $0.1808.