The post Whales Bought The Dip: Is Cardano Price Set For $1.00 In August? appeared first on Coinpedia Fintech News
The Cardano price action has taken a bullish turn with technical patterns confirming long-term optimism. As ADA consolidates near key support, and on-chain metrics are improving, experts now believe the long run rally could explode big.
EMA Structure Points to Healthy Support
Cardano price today sits at $0.7283, up 0.37% intraday, with a trading volume of $866.11 million. Early August saw ADA take support from its 200-day EMA, and it now moves within the 20-day and 50-day EMA bands, which shows a consolidation before a breakout.
Zooming out on the ADA price chart, a clear 7-month falling wedge pattern emerges. July served as a breakout month, while the pullback in late July to early August appears to be a strategic reload phase. This movement suggests more buyers may be preparing for the next leg up, which could be parabolic.
Ascending Channel Shapes ADA’s Near-Term Trajectory
From a shorter frame starting in April, ADA has formed an ascending channel. July’s rally, which surged from the $0.55–$0.60 zone to a peak of $0.92, was a liquidation grab towards the upper channel boundary. The current pullback has now taken ADA to the lower channel border, which means a strong reaccumulation zone.
If price rebounds from this area, the next targets in the Cardano price forecast suggest it could revisit July highs or breach $1.00, with potential upside even beyond. The ADA price USD trajectory from here hinges on this consolidation giving way to breakout volume.
On-Chain Whales Strengthen Long-Term Outlook
On-chain data from Santiment shows a unique trend. While addresses holding 1M–100M ADA are declining, larger whales (100M–1B ADA) are absorbing the selloff.
This shows a strong sign of quiet yet confident accumulation by smart money.
Additionally, ADA network activity has spiked across all active address metrics (1H, 24H, 7D), suggesting growing retail involvement.