Cardano Surges to 8-Month High with Independent Momentum
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Whale Activity Hits New Heights
A key factor behind Cardano’s rise is the resurgence of whale activity. Over 8,900 whale transactions have been recorded in the past two weeks—a level unseen in months. Such activity often signals growing confidence among large investors. In addition, Cardano’s trading volume surged to $52.26 billion this week, reflecting increased interest from investors across the board.
Technical Breakout Signals Growth Potential
On November 8, ADA broke out of a long-standing downward channel, a technical move that often precedes further gains. The Relative Strength Index (RSI) for ADA/BTC currently sits at 73.45, indicating an overbought condition, but there’s room for additional growth before hitting resistance. The balance of power indicator at 0.50 suggests a balanced market, keeping the door open for dynamic price action.
What’s Driving Cardano’s Independent Growth?
Unlike many altcoins, Cardano’s momentum isn’t merely tied to Bitcoin’s rally. ADA has shown resilience, with its ADA/BTC pairing reaching levels last seen in June—just before a 26% surge against Bitcoin.
What’s Next for Cardano?
With soaring whale activity, robust trading volume, and positive technical signals, Cardano appears poised for further growth. As Bitcoin dominates headlines, ADA is proving it has the strength to carve its own path. Investors and crypto enthusiasts alike should keep a close eye on this altcoin as it sets the stage for potentially bigger moves ahead.
