Cardano: Is a breakout above $1 next after consolidation?
Journalist Share this article ADA’s consolidation was keeping greedy investors on edge: HODL for more gains or exit to break even? With a proven track record of resilience, can ADA defy the odds in its long-term outlook? In just a few days, it will be two months since Cardano[ADA] reached its post-election peak of $1.24. Despite pulling back 23% from that high, it’s still holding strong, up 180% from its pre-election low. This consolidation could be a bullish signal, keeping weak hands hungry for a ‘potential’ rebound. Decoding the current ADA mood A quick look at Cardano’s daily price chart reveals a clear trend: Consistency. Each dip to the $0.60 support is met with a solid rebound, suggesting steady accumulation. Even more telling, the top two whale wallets have been loading up on ADA since its last peak, adding billions to their holdings. Source: Santiment But the trading volume has slowed. The post-election pump saw a surge of over a billion in volume, but now, it’s struggling to hit 300 million. On top of that, daily active addresses on the network have dropped by a staggering 65%, now sitting at just 38.7K. This explains why ADA struggles to stay above $1. While whales continue loading up, providing brief relief, the lack of fresh retail capital is keeping the rally shaky. Profit-taking soon drags the price back to its support level, leaving the market in a tug-of-war. Yet, there’s a silver lining: The number of ADA holders has increased by 1 million in the past two months, reaching 4.41 million. While buying interest may have cooled, the fact that these holders are sticking around could be a game-changer. How? Once the market rebounds, BTC breaks resistance, and fresh capital flows into the market, ADA could see a significant surge past its earlier peak. And it doesn’t stop there Cardano’s future isn’t just about ADA’s price swings. As a Layer 1 blockchain, its true potential lies in its ability to innovate long-term. In a recent interview, the CEO of Cardano, Charles Hoskinson, proposed an exciting possibility: A bridge with Bitcoin. Simply put, the idea is to enable smart contracts on Bitcoin using Cardano’s underlying tech. The result? Increased liquidity and growing demand for ADA. Read Cardano’s [ADA] Price Prediction 2025–2026 While this is still a future project, it’s definitely worth keeping an eye on. As the crypto space grows more interconnected, a Cardano-Bitcoin[BTC] partnership doesn’t seem so far off. So, despite a dip in buying momentum, ADA’s consolidation is still a bullish sign. The developers are leveraging FOMO to attract new liquidity, making HODLing ADA a smart move. Share