Cardano (ADA) has grabbed the spotlight following an impressive surge in whale accumulation, paired with renewed community backing and an approaching regulatory decision. Over the past week, large-scale investors commonly referred to as whales have amassed over 180 million ADA, signaling increased confidence in the asset’s future trajectory. Whales Signal Confidence with Strategic Accumulation Crypto analyst Ali Martinez reported that whales holding between 10 million and 100 million ADA significantly increased their holdings over the past seven days. This surge in accumulation occurred as ADA’s price climbed from around $0.67 to $0.75, reflecting growing optimism among large holders. The influx of whale activity is seen as a strong bullish indicator, especially since similar trends have historically coincided with price uptrends. Martinez highlighted that the $0.82 level poses a significant resistance, while support rests near $0.72. If accumulation continues at the current pace, ADA could potentially break above this resistance. Whales have bought over 180 million #Cardano $ADA in just the past week! pic.twitter.com/hOmii47pKo — Ali (@ali_charts) May 29, 2025 Conversely, if whales slow down or start distributing, prices may retrace toward the support zone. Regardless, the accumulation trend adds a bullish undertone to ADA’s recent movement. Community Support and Sentiment Remain Strong Besides whale behavior, ADA’s strong community support is reinforcing its market presence. According to TapTools, Cardano ranked second on CoinMarketCap’s community support chart, trailing only Bitcoin. Out of 4,844 voters, 87% expressed a bullish outlook for ADA just behind Bitcoin’s 87.3% from over 9,400 votes. This overwhelming support adds another layer of positive sentiment. JUST IN: Cardano $ADA now ranks #2 in community support votes on CoinMarketCap—second only to Bitcoin.One of the most community backed assets in the world. pic.twitter.com/TqfoEwErRQ — TapTools (@TapTools) May 27, 2025 All Eyes on the SEC Decision Looking ahead, the SEC is set to rule on Grayscale’s application for a spot ADA ETF on May 29. This decision, previously delayed by 45 days from its April deadline, could have a major impact on ADA’s price direction. A favorable ruling may trigger a new wave of institutional interest and push ADA above resistance. However, an unfavorable outcome could stall current momentum. Technical and Market Outlook At the time of writing, ADA trades at $0.7522, showing a modest 0.18% gain in 24 hours. Despite a 5.66% weekly drop, the token remains resilient with a market cap of over $27 billion. Trading volume has stayed healthy at over $617 million, indicating sustained investor interest. ADA/USD daily price chart, Source: TradingView On the technical side, ADA shows signs of mild bullish momentum. The MACD line remains above the signal line, though it stays close to the zero mark, indicating a cautious phase. Additionally, the Relative Strength Index (RSI) hovers at 56.98, reflecting a balanced market with no signs of overbought or oversold conditions. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.