Can Cardano Reach $1.41 with Whale Activity and Airdrop?

London, UK — As the cryptocurrency market gains momentum, analysts are speculating about the potential for Cardano (ADA) to reach $1.41 in the near future.

In a recent video on the Cheeky Crypto YouTube channel, the host discusses multiple factors contributing to a potential ADA price rally. Current whale accumulation and expected technical resistance flips, paired with a crucial airdrop, are generating interest in the Cardano ecosystem.

The upcoming Midnight Token Airdrop, which includes tokens called Night and Dust, is expected to draw attention to ADA holders. The host emphasizes the importance of claiming the airdrop manually, warning that failure to do so could result in missing out on potential benefits.

While the airdrop has garnered headlines, the video also emphasizes Cardano’s growing on-chain activity. Currently, the total crypto market cap is approximately $3.35 trillion, with Bitcoin recently surpassing $108,000. ADA is trading around $0.58, showing a 3.47% increase in the past week and reporting over 111 million transactions on its network.

This increase in transactions could signal heightened interest from developers and users, potentially leading to increased price appreciation. Analysts noted that ADA recently fluctuated around $0.565 and appears to be gaining upward momentum, with predictions suggesting it could reach the $0.67 to $0.70 range.

Technical indicators show Cardano is trading above its 100-hour moving average, often indicating a bullish trend. Discussions about a potential Federal Reserve shift towards more favorable monetary policy could also benefit altcoins.

The analyst points to a significant breakout potential for ADA, with resistance levels outlined at $0.90, $1.1281, and $1.4160. If ADA clears these resistance zones, the price could continue to rise.

In addition to short-term goals, the host explores ambitious long-term forecasts, speculating whether a $10,000 investment in Cardano today could appreciate to $1 million by 2035 if ADA reaches around $60. Analysts caution that this speculative scenario hinges on Cardano capturing a more substantial share of the decentralized finance (DeFi) market.

Currently, Cardano’s total value locked (TVL) stands at about $251 million, contrasting sharply with Solana’s $8.6 billion, highlighting significant room for growth.

Whale activity has also been noteworthy, as large holders return to accumulating ADA, which may reflect institutional confidence in the asset. This type of buying behavior is traditionally seen as positive, signaling potential strength in the market.

The Cheeky Crypto host concludes by reminding viewers that cryptocurrency investments involve risks and emphasize the importance of conducting thorough research. Despite the volatility, he notes several factors that suggest Cardano could be entering a growth phase.