Cardano Breakout? $ADA Price Shows Potential for Parabolic Rally

Despite bearish sentiment, Cardano (ADA) has surged 5% in recent days, driven by large whales accumulating and defying market skepticism from retail traders. A potential parabolic rally is hinted at through key indicators including a Wyckoff cycle analysis suggesting ADA’s entry into the markup phase. This comes with short liquidations exceeding long positions, as seen on Coinglass data, signaling a shift in trader sentiment.