ADA bullish, may surge 30% to $1.26 in the future.

On-chain indicators show that exchanges have witnessed an outflow of ADA worth $37.18 million.

Only when the daily closing price of the altcoin is above $0.98, the bullish outlook for ADA will be maintained; otherwise, it may fail.

After two weeks of narrow range consolidation, due to the bullish price trend, Cardano's native token ADA is expected to experience a significant rebound. However, since early December 2024, ADA has experienced a significant price correction. It has been facing trend line resistance, with the price falling by over 42%.

Will the recent rebound of ADA continue?

According to the data from analysis company Coinglass, during the same period, long-term holders and whales seem to have accumulated a large number of altcoins as they appear to be at a discount level.

This is consistent with recent trends, traders have been closely monitoring the key levels of ADA, especially after its correction, to assess potential buying opportunities.

If we look at the performance of long-term holders in the past seven days, the ADA spot inflow/outflow data shows that the outflow of ADA from exchanges is as high as 371.8 million USD. This number indicates that long-term holders have accumulated these important tokens during the price consolidation period.