Cardano Price Eyeing $1 Fueled By Whale Buying and Litecoin Deal

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Since last week, Cardano’s (ADA) price has recorded a drop of more than 10%. Since then ADA price has quietly shown strength again, and continues to consolidate sideways, while prominent analyst Ali Martinez believes that the Cardano price could push towards $1 soon, fueling the bullish sentiment in the market.

Interestingly, big ADA holders are still buying more ADA. This comes as market excitement grows due to a possible DeFi partnership between Cardano and Litecoin, and growing hopes of an ETF approval.

Cardano Price Eyes the $1

According to Ali, ADA pulled back slightly after reaching a high near $0.88, but it found strong support around $0.74, right at the lower end of its upward channel. This zone has acted like a safety net, as ADA has been moving within a rising channel since mid-April.

For traders, this setup is often seen as a sign that the token might be preparing for another leg up.

Ali noted that if ADA can stay above $0.74 and continue following the trend channel, there’s a chance it could retest previous highs of $0.88 or even aim beyond $1.

Whales Are Buying Big

Backing the technical setup is a wave of whale activity. In just the past 48 hours, large wallets have purchased over 80 million ADA , according to blockchain platform Santiment. When whales start buying, it often means something big is coming.

As of now, Cardano’s price is trading around $0.725 , reflecting a drop of 2% seen in the last 24 hours, with a market cap of $23.5 billion.

Cardano and Litecoin Working Together?

Another reason for the excitement is a possible DeFi partnership between Cardano and Litecoin. Cardano’s founder, Charles Hoskinson, confirmed his support for the Litecoin community and hinted at a new collaboration.

This could happen through Cardano’s upcoming privacy-focused project called Midnight .

If confirmed, this would be a rare and powerful cross-chain partnership between two well-established blockchains.

ETF Hopes to Lift Sentiment

Meanwhile, Cardano’s regulatory outlook is improving. According to Polymarket, the chances of a Cardano spot ETF being approved this year have jumped from 45% to 64% in just one day.

This shows that investors believe Cardano could soon be part of the traditional financial world.