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Cardano price outlook: can whale buying flip the trend?
Cardano (ADA) has slid more than 30% over the past month and is currently consolidating around $0.62 as traders search for short-term support. After repeated failures to sustain the $1 level, market sentiment remains cautious, making any recovery dependent on both on-chain dynamics and technical momentum.
Development momentum and Midnight privacy sidechain
Positive catalysts are emerging. Charles Hoskinson, Cardano's founder, has announced ambitious plans for the Midnight privacy sidechain, targeting a 2026 roadmap to transform it into a leading platform for private smart contracts. Development activity on Cardano has picked up: smart contract deployments have increased by roughly 45%, signaling renewed developer interest in the ecosystem.
Whales accumulating ADA
On-chain data shows large holders stepping in. Between October 12 and 17, two major wallets acquired more than 160 million ADA—about $150 million—highlighting institutional or whale-level confidence in Cardano’s long-term potential.
Technical levels to watch
Key resistance sits at $0.68, while immediate support is near $0.61. A decisive break above $0.68 could trigger a rally toward $0.75–$0.80. Conversely, failure to hold current support could open the door to a decline toward $0.55–$0.50. Traders should combine on-chain signals, whale activity, and traditional technical analysis when assessing ADA’s next move.
Overall, Cardano’s mix of increased development, strategic plans for privacy smart contracts, and notable whale accumulation create a cautious but potentially constructive setup for ADA—if key resistance and support levels hold.
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