TL;DR

Cardano whales made some strategic moves ahead of Fridays speech by US Fed Chair Jerome Powell, accumulating a sizeable number of tokens within just two days. The assets price reacted with a massive surge that drove it higher by 15% from bottom to top. Whales scooped up 180 million Cardano $ADA over the past 48 hours! pic.twitter.com/ZkfCIhXkMW

Data from the popular analyst with over 150,000 followers on X indicates that the 180 million ADA were bought by large investors in the span of just 48 hours. In terms of USD value, this stash is worth over $160 million at todays prices.

Cardanos native token had followed the rest of the market in the past several days and had plunged to $0.82 on Friday. This was its lowest price tag since August 12, when the asset went on a roll that drove it from $0.78 to $1.

However, Powells speech was met with tremendous enthusiasm by investors, as evidenced by all financial markets moves yesterday. The crypto industry was no exception, as the total market cap jumped from under $3.9 to over $4.1 trillion in hours.

ADA was among the top performers during this substantial rise, rising from its daily low of $0.82 to a local peak of $0.94 before it slightly corrected to the current $0.91.

ADAUSD. Source: TradingView Several crypto analysts have outlined bullish trajectories for ADA. However, it needs to overcome certain resistance levels before it is able to unlock future gains. AltGem Hunter, for instance, predicted a surge beyond $2.68 and $5 and even up to $10 if ADA managed to turn the $1.16 level into support.

$ADA looks set for $10

Flip $1.16 into support and the path is clear:

$1.16 → $2.68 → $5 → $10

Institutions are watching closely. The next few months could be life-changing. pic.twitter.com/tmBjcKaWon

Crypto Analyst also posted a bullish prediction for the assets price, indicating that it could go as high as $2 soon.