Cardano (ADA) Price Prediction Today
Market sentiment appears to be turning entirely bullish as President-elect Donald Trump’s inauguration approaches. Amid the market recovery, ADA, the native token of the Cardano blockchain, has broken out of a bullish price action pattern and is poised for massive upward momentum.
ADA Technical Analysis and Upcoming Levels
According to expert technical analysis, ADA looks bullish as it has broken out of a bullish inverse head and shoulders price action pattern on the daily time frame. Following this breakout, the altcoin has cleared the way for a massive rally.
Based on recent price action and historical momentum, if ADA remains above $1.15, it is very likely to surge 42% to the $1.63 mark in the future.
However, current market sentiment and Trump’s inauguration suggest SOL can easily achieve this forecast.
On the positive side, ADA has a relative strength index (RSI) of 63, and technical analysis suggests the altcoin has plenty of room to surge higher.
Trader and investor interest continues to rise
In addition to this bullish outlook, interest from traders and investors also appears to be positive as they maintain a bullish stance, the on-chain analytics firm said coin glass.
As of press time, the ADA long-short ratio is 1.10, indicating strong bullish sentiment among traders. The data further shows that 53% of top ADA traders currently hold long positions, while 47% hold short positions. This bullish sentiment comes after ADA broke out of a head and shoulders price action pattern.
Millions of ADA accumulation
In addition to this, long-term holders and whales have reportedly been accumulating altcoins Coin Encyclopedia. According to the latest data, the whale accumulated 100 million ADA tokens on January 15, 2025, followed by 30 million ADA tokens on January 16, 2025.
Heavy accumulation by whales and long-term holders indicates that the bull market has officially begun and signals an ideal buying opportunity.
Current Price Momentum
Given these bullish outlooks, ADA is currently trading near $1.14, with the price surging by more than 1.20% in the past 24 hours. During the same period, its trading volume increased by 11%, indicating increased participation from traders and investors amid the market recovery.
