‍#Gate广场四月发帖挑战

Bullish Signals in Cardano Price: Staking Rate and Buyer Interest Increasing

High staking rates and large wallet activity are attracting attention in Cardano.

The price movement continues to search for direction between key support and resistance levels.

While Cardano's recent price movements appear stagnant, on-chain data and technical indicators are starting to draw attention. Currently trading around $0.25, the ADA price is generally sideways after a long period of decline in the market. However, both staking data and the behavior of wallets holding large amounts of ADA indicate an accumulation trend in the background.

Current data reveals that approximately 59% of the total ADA supply is locked. This rate places Cardano among the most actively staked cryptocurrencies. Such a high level of staking on the ADA network indicates that a large portion of the supply is unsellable in the short term, which reduces pressure on the price.
During the same period, there has been a remarkable increase in the number of large ADA wallets. In particular, the number of wallets holding 10 million ADA or more has reached its highest level in the last four months. In these times of low individual investor interest, it is noticeable that large buyers are accumulating their holdings. Such purchases have often been precursors to stronger price movements in previous market cycles.

Technically, the ADA price continues its movement within a wedge formation that formed after a multi-month decline. Currently, the price is trading near the upper limit of this structure and is on the verge of a potential upward breakout. In USD terms, the 0.23–0.25 dollar range stands out as critical support, while the first resistance is in the 0.30–0.32 dollar band. If the price can break above this region, new targets of 0.40 and even 0.50 dollars may come into play. However, if the 0.23 dollar support is lost, the decline could continue to 0.20 dollars.
On the monthly charts, the $0.23–$0.25 range continues to act as long-term support. This area has also served as a demand zone in past cycles. The monthly RSI, a technical indicator, has fallen to the 35–40 band, a level also seen in past bottom formations.

Large wallet activity on the network supports the idea that significant amounts of ADA are being held long-term. However, volatility risks are a concern in the short term. In recent transactions, ADA faced selling pressure within the weekly detailed price gap. The reaction from this resulted in a downward reversal in the short term, and if the $0.23–$0.24 band cannot be maintained, sales may accelerate, and the price may test lower levels.

On the other hand, low retail investor interest and increasing accumulation of large investors indicate a trend towards gradual buying rather than strong selling pressure in the market. Behind ADA's sideways and calm appearance, a different picture is emerging for medium and long-term investors.

Overall, the high staking rate and the increasing holdings of large wallets suggest that a long-term positive structure is forming for ADA. However, for the price to gain new upward momentum, the resistance levels mentioned above need to be clearly overcome. In the short term, a significant loss of support could lead to further pullbacks.
‍$ADA