As the broader market saw a significant upside, and altcoins are performing well, Cardano approached the $1 level at press time after a sharp rebound from $0.83.
Whales accumulated large amounts of ADA, and analysts tracked technical patterns suggesting pressure was mounting near resistance zones.
Cardano Price Tested Key Resistance
The Cardano price traded close to $0.92 at the time of writing. Analysts said this zone was critical, as multiple rallies had stalled between $0.92 and $0.94 in recent weeks.
That range represented near-term supply, and a close above it could set up a challenge of the $1 psychological threshold.
Earlier in the week, intraday charts showed the Cardano price bouncing quickly from $0.83 back toward $0.89 in a single hourly candle.
Trading volume surged during that move, with nearly 40 Million ADA changing hands on one bar. Analysts said this represented renewed demand after a period of drift.
The reversal candle printed on that session tilted momentum back toward buyers, though resistance zones remained overhead.
Structurally, the token moved back into a symmetrical triangle formation it had broken down from earlier.
According to technical observers, reclaiming that pattern was a constructive signal, as it suggested buyers were re-establishing control.
Securing consistent closes inside the formation would reinforce the potential for a larger recovery.
Whale Buying Supported Cardano Price
On-chain data indicated whales purchased more than 180 Million ADA in the past 48 hours. Analysts said this accumulation reduced available supply on exchanges, creating conditions where smaller inflows of demand could exert greater price impact.
Market commentators highlighted that past periods of concentrated whale buying often preceded larger upward moves.
Ali Martinez, a widely followed analyst, said that when whales absorbed liquidity, retail traders typically entered afterward, amplifying the effect.
That cycle of reduced supply and increased demand historically fueled rallies in the Cardano price.
The current environment showed similarities, with supply thinning and technical resistance levels being tested.
The $0.92 to $0.94 range was viewed as the immediate hurdle. If buyers secured a sustained close above it, analysts said the $1 mark would likely come under pressure.
Longer Term Outlook Remained Critical
Zooming out, analysts said the Cardano price still faced a larger structural challenge. Since late 2023, a descending trendline had repeatedly capped rallies.
The token was again pressing into that resistance at press time. Anup Dhungana, a technical analyst, noted that multiple failed breakouts at this level made the current test more significant.
Volume had increased as the token approached the line, and the Relative Strength Index (RSI) was leaning bullish at the time of writing.
These indicators suggested momentum was shifting, though confirmation required a close above the trendline.
If achieved, chart projections outlined upside targets between $3.00 and $3.40. Analysts said that clearing $1 would not only mark a psychological win but also validate the broader bullish structure.
The ability to surpass the descending trendline could redefine market direction and potentially extend gains toward those higher levels.
Cardano Going Forward
The Cardano price faced an immediate test at the $0.92 to $0.94 zone, with the $1 level directly above it.
Whale accumulation and increasing volume created a supportive backdrop, but technical confirmation was still required.
A clean breakout above the trendline would represent a structural shift, while failure could keep ADA constrained.
Analysts said the coming sessions would determine whether Cardano could finally move beyond resistance and establish momentum toward higher targets.
Source: https://www.thecoinrepublic.com/2025/08/23/cardano-price-near-1-as-whales-accumulate-180m-ada/