ADA Price Jumps 7% Amid Steady Whale Accumulation
Cardano (ADA) price surged nearly 7% in the past 24 hours, taking its seven-day gain to 17%. Trading volume has also increased significantly, up about 25% in the past day to nearly $2 billion.
As whale accumulation increases and ADA approaches a key resistance level, the market’s focus turns to whether the uptrend can strengthen, or if a correction may be imminent.
ADA’s current uptrend lacks strength
cardano The Average Directional Index (ADX) currently stands at 21.2, up from 18 two days ago, indicating that its trend is gradually strengthening. Earlier today, ADX reached 22, briefly crossing the threshold that usually defines the existence of a stronger trend.
This increase is consistent with ADA’s continued upward trend, indicating that while this trend is still in the early stages of development, it is showing signs of gaining momentum.
ADX measures trend strength on a scale from 0 to 100, regardless of trend direction. Values below 20 indicate a weak or range-bound market, while values above 25 indicate a strong trend. and ADA With ADX at 21.2, the trend is approaching meaningful strength but has yet to fully confirm its robustness.
If ADX continues to rise, it could indicate that ADA’s uptrend is consolidating, increasing the likelihood of continued price increases. However, if the ADX stalls or falls, it could be a sign that the current rally is losing steam and could turn sideways.
Cardano Whales Start Accumulating Again
quantity cardano Whales (wallets holding between 1 million and 10 million ADA) reached a one-month low of 2,453 on January 9. The number has been rising steadily since then and currently stands at 2,484, the highest level since December 28.
The increase in large holders indicates renewed interest and accumulation of capital by influential market players, which could significantly impact ADA price.
Tracking whale activity is crucial as their holdings and movements often have a huge impact on market trends. Recent increases in whale numbers may indicate growing confidence in whales ADA price Potential, as these entities may be well positioned for future earnings.
If this accumulation trend continues, it could put upward pressure on the price of ADA, as reduced circulating supply and concentrated holdings tend to support price increases. Conversely, a reversal in this trend could signal a potential selloff or weakening support.
Ada Price Forecast: Can it start a new round of rebound?
cardano The exponential moving average (EMA) line is currently showing a bullish pattern, with the short-term EMA above the long-term EMA.
This arrangement reflects strong upward momentum, reinforced by the formation two days ago of a golden cross, a classic technical signal that precedes a sustained upward move in price.
If the current upward trend continues, cardano price A test of its first resistance level at $1.119 is likely. A successful move above this level could pave the way for further gains, with $1.15 being the next target.
However, support at $1.03 remains crucial to sustain the uptrend. A break below this level could signal a reversal that could push ADA price The downtrend may extend to $0.879, where a 17.9% correction is possible.
Disclaimer
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