The cryptocurrency market has been about highs and lows these days. Following a drastic sell-off as a result of new U.S. tariff facilities, the markets rallied and jumped again at Bitcoin, which straddled as many as 7% over its opening course to test the $91K level, just before the Crypto Summit meeting at the White House.

Cardano is a project in the newly introduced “Crypto Strategic Reserve.” Thus, it hinted at it proceeding back up to $1 even after entering fresh territory beyond $1.

Whale Accumulation Suggests Firm Belief for ADA

With more than 420 million ADA having been accumulated by large investors since the introduction of the “Crypto Strategic Reserve,” it is obvious that these well-off speculators are showing more and more confidence in ADA”s long-term viability even though more of them have confidently declared ADA as one of the most prominent alt-coins in existence.

Technical Breakout Could Confirm Bullish Momentum

ADA rose from the grips of the descending broadening wedge pattern that plagued the price since December. Such a breakout has pushed it past critical resistance lines while whales keep accumulating more assets.

Currently, ADA is displayed around $1 with price finding support above the 100- and 200-day moving averages. Going forward, there are two more vital resistance lines at $1,16 and $1,32. Breaking above these areas could unlock the sweet modalities for a continued rally up to a range between $1,60 and $1,80 over the next couple of weeks.

This breakout coupled together with an emerging setup of institutional support and technical positioning from the buy-side will potentially declare the beginning of a new bullish cycle in ADA.