- On-chain data shows Cardano whales with a balance of at least 100 million coins have accumulated 200M ADA in the last 2 days.
- The upcoming Midnight Upgrade will boost Cardano’s on-chain activities, and further bolster the bullish outlook.
- Technical analysis suggests the ADA/USD pair has followed a similar fractal pattern to the 2021 bull cycle.
Cardano (ADA) price has gradually signaled a midterm and macro bullish outlook. The large-cap altcoin, with a fully diluted valuation of about $36.9 billion, rallied 12% in the last seven days to trade at about $0.822 on Monday, August 11, during the early London session.
This recent rebound was marked by a daily “golden cross” between the 50 and 100 Simple Moving Averages. That mid-term bullish sentiment is being reinforced by the weekly MACD indicator, which has also flashed a buy signal.
Today’s ADA Outlook: The long-term chart looks bullish, but what about right now? Here’s CoinEdition’s specific price prediction for ADA today, August 9.
Notably, the weekly MACD line and the Signal line crossed above the zero line amid the rising bullish histograms. Meanwhile, the odds of a macro altseason have been rejuvenated by the recent Ethereum (ETH) price rebound above $4,200 amid the anticipated macro reversal for Bitcoin’s dominance.
Whales Are Aggressively Buying ADA
The demand for Cardano has been on a clear uptrend since the beginning of 2025. According to data from CoinGlass, Cardano’s Futures Open Interest (OI) has surged from around $238 million in November 2024 to about $1.41 billion today.
This rising interest from derivatives traders has coincided with aggressive spot buying from whales. In just the past two days, Cardano whale wallets holding between 100 million and 1 billion coins have accumulated another 200 million ADA. This buying spree increases their total net holdings to 3.72 billion coins.
Gambardello’s Take on ADA 10x Rally to $10
According to crypto analyst Dan Gambardello, ADA is well-positioned to rally 10x in the anticipated 2025 altseason.
Gambardello subscribed to a theory coined by Ali Martinez that the ADA price has been following a similar fractal pattern to the last bull cycle.
As a result, Gambardello thinks that the ADA price will likely top out between $5 and $10 in the coming months, before entering the next major bear market phase. If Cardano achieves XRP’s current market cap of $193 billion, the ADA price will hit $5.36.
The Founder’s Take: The charts look bullish, but what does the man in charge think? Here are Charles Hoskinson’s own bold price targets for ADA.
ADA’s Fundamental Catalysts to Watch
As Coin Edition reported, the Cardano ecosystem is preparing for a major upgrade dubbed Midnight before the end of 2025. According to Cardano founder Charles Hoskinson, the upcoming Midnight Upgrade will propel ADA to new heights of mainstream adoption.
Meanwhile, the Cardano network will also benefit from an anticipated crypto ETF approval summer in the United States. Moreover, Grayscale Investment and Tuttle Capital have already filed spot ADA ETFs with the U.S. Securities and Exchange Commission (SEC).
So what’s the upside to this? ADA’s price targets are big, but what could that mean for your wallet? Here’s our analysis of how a $1,000 investment in ADA could grow.
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