Cardano Surges Past Multi-Week Resistance Amid Whale Accumulation and Market Rotation
Cardano's price has surged over the past 24 hours, increasing by 8.74% to reach $0.1860. This breakout comes after weeks of consolidation, with ADA establishing a firm base near $0.1531 and gradually regaining strength.
The altcoin broke through key resistance levels, including $0.1750 and $0.1812, before pushing higher. Buyers reclaimed 3.49 million ADA in volume, confirming genuine buying interest rather than a weak rally.
While the rapid gains may create opportunities for short-term pullbacks, maintaining support at $0.1812 could pave the way for a move towards $0.2000 resistance. Losing this level would increase the likelihood of a healthy retest before another advance.
The broader altcoin market is also showing signs of improvement, with the Altcoin Season Index climbing 5.77% over the past 24 hours to 55, moving further above the neutral 50 threshold. This suggests capital is rotating from Bitcoin into higher-beta altcoins.