Altcoins Show Signs of Recovery as Whale Accumulation and ETF Launches Drive Market Interest

Major Altcoins Attract Institutional and Whale Interest

Two prominent altcoins are capturing renewed attention from both large holders and institutional investors, suggesting a potential shift in market sentiment after prolonged downturns. Cardano and Chainlink have both experienced notable developments that could influence their near-term price trajectories.

Cardano Sees Substantial Whale Accumulation

Cardano has witnessed significant buying activity from large holders despite trading well below previous highs. According to data shared by analyst Ali Martinez, whales have purchased 210 million ADA tokens over the past three weeks ^[1]. This substantial accumulation indicates strong conviction among major investors.

In a recent transaction, one whale deposited $7.9 million USDC into the Hyperliquid exchange to acquire 6.46 million ADA, establishing a position valued at approximately $2.50 million ^[1]. Such whale activity typically signals informed capital positioning ahead of potential price movements.

The derivatives market is also showing increased engagement with Cardano. Data from Coinglass reveals that ADA futures volume on the Bitmex exchange surged by 10,654%, reaching $40.04 million ^[1]. This dramatic increase in derivatives activity suggests growing trader interest in the token's future price direction.

Technical Outlook for ADA

Cardano currently trades near the $0.39–$0.40 range, maintaining support above the $0.33–$0.35 zone that buyers defended following recent selling pressure ^[1]. The token is positioned around its 20-day exponential moving average of approximately $0.39, though it remains below the 50-day simple moving average near $0.48, which continues to present overhead resistance ^[1].

The Relative Strength Index stands at around 52, hovering in neutral territory and indicating modest momentum recovery without overbought conditions ^[1]. This technical positioning suggests room for upward movement if buying pressure intensifies.

For a meaningful trend reversal, Cardano would need to break through the $0.45–$0.48 resistance zone where the downtrend line converges with the 50-day moving average ^[1]. A sustained move above this level could open a path toward $0.60 in the medium term, though reaching the psychologically significant $1 level would require breaking above resistance around $0.54 ^[1].

Chainlink Gains Momentum Following ETF Launch

Chainlink experienced a notable price surge to a monthly high following the launch of a spot ETF by Bitwise on the NYSE Arca exchange ^[2]. The new investment product, trading under the ticker CLNK, provides institutional investors with regulated access to the leading oracle network that serves as a bridge between real-world data and smart contracts ^[2].

Bitwise is attracting early investors by waiving fees for the first three months or until the fund reaches $500 million in assets under management ^[2]. Bitwise Chief Investment Officer Matt Hougan described Chainlink as a "fundamental building block of the blockchain economy" ^[2].

Chainlink's Technical Position

Chainlink's price recently traded at $13.75, slightly above the previous day's close of $13.71, with a market capitalization of approximately $9.76 billion ^[2]. The token is positioned marginally above its 20-day exponential moving average of $13.74 ^[2].

Key support levels are identified at $13.49 and $13.25, while resistance stands at $13.90 and $14.40 ^[2]. The 14-period RSI sits at 53.08, indicating neutral momentum ^[2]. A breakout above $13.90 with volume confirmation could trigger acceleration toward the $14.40–$14.90 range, while a sustained drop below $13.49 could lead to declines toward $13.00–$12.60 ^[2].

Both altcoins are showing signs of stabilization and potential recovery, supported by increased institutional interest and strategic accumulation by large holders.