Cardano's (ADA) price has increased by 10% in the last week, pushing its market cap to $23 billion and daily trading volume close to $700 million. This surge in momentum has drawn attention back to ADA, as key indicators are aligning in favor of a possible breakout.

The ADX indicator has surpassed a vital level, indicating strong trend momentum, and whale activity is showing signs of recovery after hitting a yearly low. With a golden cross formation looming, ADA seems poised for its next significant move.

The Average Directional Index (ADX) for Cardano has risen to 25.97 from 17.41 just two days ago, indicating a strengthening trend. This uptick suggests that ADA's price movements are gaining momentum, hinting at a potential uptrend in the making.

The increase in ADX signals growing momentum, possibly indicating a shift from low volatility to a more directional trend. An ADX value above 25 typically signifies a strengthening trend, and with ADA's ADX at 25.97, it suggests a move towards a more structured directional trend.

The number of whale addresses holding ADA, between 1 million and 10 million tokens, decreased from 2,418 to 2,384 but rose slightly to 2,389. Although this uptick hints at renewed accumulation, the total number remains lower, suggesting caution among major holders.

Monitoring whale activity is important as these large holders can influence price movements significantly. While the recent increase in whale count is positive, it indicates that major players are not entirely convinced of ADA's sustainability.

Cardano's EMA lines are aligning, hinting at a potential golden cross forming, which could propel ADA to test resistance at $0.709 and potentially move higher to $0.77. However, ADA is currently trading just above key support levels at $0.629 and $0.61, and breaching these supports could invalidate the bullish setup, leading to potential downward movement towards $0.51.