Cardano (ADA) defies top cryptocurrencies as growing whale activity, an increase in daily active addresses, and bullish trader sentiment suggest further gains are on the horizon.
With a 6.60% price jump, Cardano (ADA) outperforms top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), which posted gains of 0.50%, 0.10%, and 0.70%, respectively. Growing whale transactions and traders’ bullish bets suggest further upside is on the horizon.
According to Santiment, an on-chain analytics platform, Cardano whale activity has exploded. Data shows that whale transactions worth $100K or more have reached their highest level since June 4, 2026. Not only that, but ADA’s social dominance has also reached its 2026 peak, indicating growing market attention and increased interest in the asset.
Alongside growing whale transactions, ADA daily active addresses hit 27.50K on October 7 and 27.2K on October 8, about 1.7x the September 2026 weekday average, though still below the late-August 2026 peak, according to Santiment’s recent report.
The derivatives platform CoinGlass also found support for ADA’s bullish outlook, as intraday traders appear to be favoring long positions. At press time, ADA’s long/short ratio stands at 1.0392, above 1, indicating bullish sentiment among traders.
Meanwhile, the OI-weighted funding rate has also turned positive at 0.0089%, suggesting that long-position holders are paying short-position holders to maintain their positions.
Not only that, but $0.248 on the lower side and $0.258 on the upper side are the two major liquidation levels. Meanwhile, traders at these levels have built $6.08 million worth of long positions and $3.66 million worth of short positions, indicating bulls’ dominance. In fact, this also suggests that traders are eyeing further upward momentum for ADA.
At press time, ADA has jumped 6.60% over the past 24 hours and is trading at $0.2531. Alongside the price increase, the asset’s trading volume has also climbed by over 10% to $587.16 million, indicating that market participants are potentially supporting the upward momentum.
According to TradingView’s daily chart, ADA’s short-term bias appears bullish and is poised to continue in the coming days. The key factors driving this positive outlook appear to be a successful retest of the $0.2270 level, where resistance turned into support, and the price trading above the 200-day Exponential Moving Average (EMA), which suggests a broader bullish trend.
Based on the current price action, if ADA remains above the $0.2270 level, the positive outlook will remain intact. In this scenario, the asset could continue its upward momentum, while further upside would be possible only if the price clears the $0.26 level.
However, this bullish thesis could be invalidated if the price falls below $0.2270. If that happens, ADA could potentially face significant downside pressure.
At press time, ADA’s Average Directional Index (ADX) reads 28.51, indicating strong trend strength for the asset.
ADA’s short-term and long-term biases appear bullish, with the asset poised to continue its uptrend in the coming days. Growing whale transactions, an increase in daily active addresses, and bullish trader sentiment are strengthening the asset’s positive outlook. From a price action perspective, the $0.2270 level acts as a key support level for ADA.
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