Cardano (ADA) is eyeing a breakout past $0.84 toward $1.0, supported by strong whale accumulation of over 200 million ADA in the past 48 hours.
Amid the broader crypto market rally, Cardano’s native cryptocurrency ADA ADA $0.77 24h volatility: 5.8% Market cap: $28.04 B Vol. 24h: $2.12 B is showing strength, eyeing a crucial breakout past $0.84, for a rally towards $1.0. Following last week’s $71 million community grant, Cardano price is showing strength again, amid strong whale activity and bullish sentiment.
Is Cardano Price Gearing for a Parabolic Rally?
Popular crypto analyst Ali Martinez recently reported that the Cardano price chart is showing a similar pattern formation, ahead of its parabolic rally the last time. Martinez noted that ADA could be at the early stages of a potentially “explosive move.”
As shown in the chart below, ADA is forming the base at $0.80 as of now. If it bounces from the current levels, the gates are open for a rally all the way to $7 and beyond. Of course, the bulls will need to break through the intermediate resistance levels.
Cardano $ADA is mirroring the price structure of its last cycle, but unfolding more slowly. It looks like we’re at the very start of an explosive move. pic.twitter.com/eCtAkNRPyi
— Ali (@ali_charts) August 10, 2025
On the other hand, crypto analyst Ali Martinez also pointed out strong whale accumulation for ADA. He added that whale investors have purchased over 200 million ADA tokens in the past 48 hours, adding to the bullish momentum surrounding the asset.
Over 200 million Cardano $ADA bought by whales in the last 48 hours! pic.twitter.com/FCgCX15P3b
— Ali (@ali_charts) August 11, 2025
The broader crypto market sentiment is turning bullish again with Bitcoin eyeing new all-time highs, amid a fresh breakout. If altcoins gather enough momentum, the Cardano price could break past its immediate resistance of $0.84, setting the stage for a rally to $1 and beyond.
ADA Derivatives Data Shows Strength
The derivatives data also indicates a bullish sentiment for Cardano (ADA), with rising open interest (OI) and positive funding rates. This shows that traders are bullish for further ADA price increase.
Cardano futures open interest (OI) on exchanges climbed from $1.20 billion on August 3 to $1.44 billion on Monday, marking the highest level since late July. The steady increase in OI signals fresh capital inflows and new buying activity, potentially fueling the ongoing ADA price rally.
ADA futures open interest | Source: CoinGlass
In addition to rising open interest, Cardano’s funding rate turned positive last week and has been steadily climbing, as per the CoinGlass data.
ADA funding rate | Source: Coinglass
This shift reflects bullish market sentiment, and historically, such sharp reversals from negative to positive have often aligned with strong ADA price rallies.
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