The Cardano price has crashed into a deep bear market this year and erased billions of dollars in value. Still, there are signs that ADA is about to stage a 120% bull run as whales quietly accumulate and open interest nears $1 billion.
Cardano Price Technicals Show Bullish Signals
The daily timeframe chart shows that the Cardano price has remained under pressure this year. It has formed a series of lower lows and lower highs, with all recovery attempts facing substantial resistance.
However, a closer look shows a few bullish signs that may trigger a surge towards the last November high of $1.326, which is about 120% above the current level.
First, the Relative Strength Index (RSI) has moved from the oversold level of 29 in June to 52. It was the first time it has moved above that level since June 2, and it is a sign that it is gaining strength.
Second, the coin has formed a double-bottom pattern, one of the most common bullish reversal patterns. The double-bottom was at $0.519, its lowest level in April and June, while the neckline was at $0.859, its May high.
This double-bottom pattern has a height of about 40%. Measuring this distance from the neckline yields an initial target price of $1.20, which is approximately 96% above the current price.
Third, the spread of the three lines of the Bollinger Bands has continued to narrow in the past few days. The Average True Range (ATR) indicator has continued falling. Combined, the two indicators mean that Cardano’s volatility has dried up recently. This performance often leads to a Bollinger Bands squeeze.
Therefore, a contrarian bullish case for Cardano can be made. If this happens, it will initially jump to the double-bottom target of $1.200, and then hit the last November high of $1.326.
A drop below the double-bottom point at $0.519 will invalidate the bullish Cardano price forecast.
Whales Continue to Accumulate ADA Tokens
A potential catalyst for the Cardano price is that whales continue to accumulate the coin. In most cases, whale accumulation is usually a sign that investors expect the coin to go up further in the long term.
Data compiled by Santiment shows that Cardano holders with between 10 million and 100 million tokens have increased their holdings to over 13.12 billion. This means that they have bought over 320 million coins since June 16.
Similarly, those holding between 100 million and 1 billion tokens have increased their positions to 3.22 billion, up from 3.02 billion on June 7, 2025.
In line with this accumulation, another data point known as age consumed has plunged to 468.9 million, down from last month’s high of 136 billion.
Age consumed data measures the tokens that have moved multiplied by the time in days since they changed addresses. A low figure is a sign that long-term holders are not selling their coins.
Also Read: Altseason Incoming? Bitcoin Dominance Drops Below 64%
ADA Futures Open Interest is Soaring
Meanwhile, there are signs that the futures open interest of Cardano is rising gradually. The interest rose to $929 million and is slowly approaching the key milestone of $1 billion. A move to $1 billion will be the first time it has done that since March this year.
Soaring futures open interest is a bullish sign because it means that demand among investors is continuing.
A likely reason for this demand is the upcoming Glacier airdrop, in which Cardano holders will receive NIGHT tokens. NIGHT will be a Cardano sidechain focusing on privacy.
Cardano price has been under pressure in the past few months, mirroring the performance of other tokens. This crash coincided with the ongoing fears that Cardano was a ghost chain.
However, there are signs that the ongoing crash is about to end. It has formed a double-bottom pattern, indicating a potential rebound as whales continue to accumulate.
