Whales Scoop 180M ADA as eToro Relists — Price Spike Next?

Key Notes

• ADA is consolidating, yet analysts foresee a strong long-term rally.
• Gambardello projects a $10 ADA by 2025.
• eToro has relisted ADA in the U.S., reviving interest after its 2021 delisting.

Cardano

ADA $0.71

24h volatility: 3.3%

Market cap: $25.55 B

Vol. 24h: $547.02 M

is currently trading at $0.751, showing no notable movement over the last 24 hours. While the price remains stagnant in the short term, analysts express strong confidence in ADA’s long-term potential.

Crypto analyst Dan Gambardello recently noted Cardano’s tendency to undergo extended consolidation phases before experiencing sharp rallies. According to him, the current 176-day consolidation closely mirrors ADA’s historical average of 179 days prior to breakouts.

Gambardello suggests that Cardano is now in a “pre-bull market” phase, setting the stage for a major uptrend. He predicts ADA could hit $10 by 2025, citing the upcoming Midnight airdrop, which targets over 37 million users, and speculation around a future Cardano ETF.

Meanwhile, on-chain data reveals that large investors have purchased over 180 million ADA, worth around $135 million, in just the past week.

This spike in accumulation also follows eToro’s May 28 announcement that it is relisting ADA on its U.S. platform. ADA was previously delisted in 2021.

Ada price outlook

On the daily chart, ADA’s price is moving sideways between the lower and upper Bollinger Bands ($0.71 to $0.83). The bands are currently tightening, indicating a potential breakout in either direction.

ADA price chart with RSI and Bollinger Bands | Source: Trading View

A decisive break above the upper Bollinger Band at $0.83 could trigger a short-term rally.

The Relative Strength Index (RSI) is sitting around the neutral zone with no clear overbought or oversold conditions. This supports the ongoing consolidation but also suggests room for upward movement if bullish momentum picks up.

Meanwhile, the MACD indicator shows a bearish trend, with the signal line slightly above the MACD line. However, the converging lines with flattening red histogram suggests a possible bullish crossover if volume supports.

ADA price chart with MACD | Source: Trading View

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